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Determine the amount of purchases for the year

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Question - Inferring Merchandise Purchases - Harrison and Company is a leading retailer of casual apparel for men, women, and children. Assume that you are employed as a stock analyst and your boss has just completed a review of the new Harrison annual report. She provided you with her notes, but they are missing some information that you need. Her notes show that the ending inventory for Harrison in the current and previous years was $272,402,000 and $233,063,000, respectively. Net sales for the current year were $2,540,366,000. Cost of goods sold was $178,684,000. Income before taxes was $172,225,000. Determine the amount of purchases for the year.

Reference no: EM133091154

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