E6-2 (Static) Inferring Merchandise Purchases [LO 6-2) The Gap, Incorporated, is a specialty retailer that operates stores selling clothes under the trade names Gap, Banana Republic, Athleta, and Old Navy. Assume that you are employed as a stock analyst and your boss has just completed a review of The Gap, Incorporated, 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 Gap was $2,240 million at the end of the quarter and $2,130 million at the beginning of the quarter. Net Sales for the quarter were $3,700 million. Gross Profit was $1,340 million and Net Income was $227 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 milion million