Question
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.
Dillards should have purchased what amount of merchandise in 2019? $__________ million.
If Dillards had actual purchases of $1250 million in 2019, what was the amount of shrinkage (alternatively called shoplifting) in 2019? $ __________ million.
If Dillards reported sales of $2000 million in 2019, what was its gross profit margin? ____________ %
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