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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 millionMerchandise inventory (end of the year) $ 57 millionNet sales for the year $ 1.2 billionGross 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 "tiny_mce_markerquot; sign in your response.)
Cost of goods sold $
b. Approximately how much inventory did PC Connection purchase during the year?
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