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Dillards department stores operate in the Southwest and Midwest. In 2019, Dillards reported cost of goods sold of $1400 million, and ending merchandise inventory of
Dillards department stores operate in the Southwest and Midwest. In 2019, Dillards reported cost of goods sold of $1400 million, and ending merchandise inventory of $1600 million. The previous year ending inventory was $1800 million. a) Dillards should have purchased what amount of merchandise in 2019 ? $ million. b) If Dillards had actual purchases of $1250 milion in 2019 , what was the amount of "shrinkage" (alternatively called shoplifting) in 2019? million. c) If Dillards reported sales of $2000 million in 2019 , what was its gross profit margin? %
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