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Collins corporation, operates department stores located primarily in the Southwest, Southeast, and Midwest. In its 2019 second-quarter report, the company reported Cost of Goods Sold of $7,900 million, ending inventory for the second quarter of $9,100 million, and ending inventory for the previous quarter of $9,100 million. Determine the amount of merchandise purchases for the second quarter. (Enter your answer in millions.) Merchandise Purchases million

Collins corporation, operates department stores located primarily in the Southwest, Southeast, and Midwest. In its 2019 second-quarter report, the company reported Cost of Goods Sold of $7,900 million, ending inventory for the second quarter of $9,100 million, and ending inventory for the previous quarter of $9,100 million. Determine the amount of merchandise purchases for the second quarter. (Enter your answer in millions.) Merchandise Purchases million

Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter21: Supply Chains And Working Capital Management
Section: Chapter Questions
Problem 11P: Negus Enterprises has an inventory conversion period of 50 days, an average collection period of 35...
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Collins corporation, operates department stores located primarily in the Southwest, Southeast, and Midwest. In its 2019 second-quarter report, the company reported Cost of Goods Sold of $7,900 million, ending inventory for the second quarter of $9,100 million, and ending inventory for the previous quarter of $9,100 million. Determine the amount of merchandise purchases for the second quarter. (Enter your answer in millions.) Merchandise Purchases million
Transcribed Image Text:Collins corporation, operates department stores located primarily in the Southwest, Southeast, and Midwest. In its 2019 second-quarter report, the company reported Cost of Goods Sold of $7,900 million, ending inventory for the second quarter of $9,100 million, and ending inventory for the previous quarter of $9,100 million. Determine the amount of merchandise purchases for the second quarter. (Enter your answer in millions.) Merchandise Purchases million
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