E6-2 (Algo) Inferring Merchandise Purchases [LO 6-2] Morgan & Cook, is a specialty retailer that operates stores selling clothes under various trade names. Assume that you are employed as a stock analyst and your boss has just completed a review of Morgan & Cook, for the first quarter of 2019. She provided you with her notes, but they are missing some information that you need. Her notes show the inventory for Morgan was $2,380 million at the end of the quarter and $2,270 million at the beginning of the quarter. Net Sales for the quarter were $4,400 million. Gross Profit was $1,620 million and Net Income was $367 million. Required: Determine the Cost of Goods Sold and cost of purchases for the first quarter. (Enter your answers in millions.) Cost of Goods Sold Purchases Amount million million