FederalWay, Incorporated, is a major department store chain. The dominant portion of the companys 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 $11,581 million, ending inventory for the current year of $3,268 million, and ending inventory for the previous year of $3,636 million.

Required:

Develop a reasonable estimate of the merchandise purchases for the year.

Note: Enter your answers in millions.

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 goods sold of $11,581 million, ending inventory for the current year of $3,268 million, and ending inventory for the previous year of $3,636 million. Required: Develop a reasonable estimate of the merchandise purchases for the year. Note: Enter your answers in millions