McGuire Industries prepares budgets to help manage the company. McGuire is budgeting for the fiscal year ended January $31,2021.$ During the preceding year ended January $31,2020,$ sales totaled $$9,200$ million and cost of goods sold was $$6,300$ million. At January $31,2020,$ inventory was $$1,700$ million. During the upcoming year, suppose McGuire expects cost of goods sold to increase by $12\%.$ The company budgets next year's ending inventory at $$2,000$ million.

Read the requirement.

How much inventory $($in millions$)$ should the company purchase during the upcoming year to reach its budget?