CoursHeroTranscribedText: Laptop Lads is a leading laptop retailer. A recent financial report issued by the company revealed the following information: Merchandise inventory (beginning of year) $79 million Merchandise inventory (end of the year) $91 million Net sales for the year $2.46 billion Gross profit margin 13% a. Compute the company's cost of goods sold for the year b. Approximately how much inventory did Laptop Lads purchase during the year? c. What factors might contribute to the company's low gross profit margin? d. Discuss reasons why Laptop Lads uses a perpetual inventory system