Convert PNG/JPG to EPS on a Mac for free, without creating a huge file

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The command for converting PNG/JPG to EPS are:
convert temp.png -compress lzw eps2:temp.eps
convert temp.jpg -compress jpeg eps2:temp.eps

The convert command comes from the imagemagick package available on Mac, Windows, Linux, and iOS.

If you type only convert temp.png temp.eps, it's gonna create the EPS file without compression, creating a huge file.