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Parker Incorporated, is a specialty retaller that operates stores selling clothes under various trade names. Assume that you are. employed as a stock analyst and

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Parker Incorporated, is a specialty retaller that operates stores selling clothes under various trade names. Assume that you are. employed as a stock analyst and your boss has just completed a review of Parker 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 Parker was $2,390 milion at the end of the quarter and $2,280 million at the beginning of the quarter. Net Sales for the quarter were $4,450 miltion. Gross Profit was $1,640 million and Net Income was $377 million. Required: Determine the Cost of Goods Sold and cost of purchases for the first quarter. (Enter your answers in millions.)

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