PC Connection is a leading mail order retailer of personal computers. A recent financial report issued by the company revealed the following information: Merchandise inventory (beginning of the year) $ 69 million Merchandise inventory (end of the year) $ 57 million Net sales for the year $ 1.2 billion Gross profit margin 11 % -------------------------------------------------------------------------------- a. Compute the company's cost of goods sold for the year. (Enter your answer in dollars not in millions. Omit the "$" sign in your response.) Cost of goods sold $ b. Approximately how much inventory did PC Connection purchase during the year? (Enter your answer in dollars not in millions. Omit the "$" sign in your response.) Purchases $