Exercise 6.3 Understanding Inventory Cost Flows (LO6-2, LO6-5, LO6-8) PC Connection is a leading mail-order retailer of personal computers. A recent financial report issued by the company revealed the following information. (Enter your answer in whole dollars.) Merchandise inventory (beginning of the year) Merchandise inventory (end of the year) Net sales for the year Gross profit margin $ 79 million $ 91 million $2.46 billion 13% a. Compute the company's cost of goods sold for the year. b. Approximately how much inventory did PC Connection purchase during the year? a. Cost of goods sold b. Purchases