FederalWay, Incorporated, is a major department store chain. The dominant portion of the company's business consists of providing merchandise and services to consumers through department stores and online. In a prior annual report, FederalWay reported cost of goods sold of $11,572 million, ending inventory for the current year of $3,250 million, and ending inventory for the previous year of $3,639 million. Required: Develop a reasonable estimate of the merchandise purchases for the year. Note: Enter your answers in millions. Required: Develop a reasonable estimate of the merchandise purchases for th Note: Enter your answers in millions. Cost of goods sold Ending inventory Purchases Sales discount Sales revenue