Women's Gap 1969 Sexy Boyfriend Jeans

Gap 1969 sexy boyfriend jeans in size 4 reg. Very pretty dusty rose pink color. Inseam is 28 inches. Waist measures 32 inches. Tag inside the waist reads 27/4 R. I don’t understand what the 27 is. It sounds like that should be the waist but as you can see in the tape measure picture they measure 16 across the front which would be a 32 inch waist.
Super cute jeans in excellent condition! Smoke free.