3 - Inventory accounts (3pts): Using the excerpts below from PepsiCo.'s Financial Statements and Notes to Financial Statements from its 2020 annual report, answer the following (NOTE: all numbers given in the excerpts are in $millions): If PepsiCo purchased $15,983 million worth of 'Raw materials and packaging' during the fiscal year ended 12/26/2020, how much 'Raw materials and packaging" did they use during the fiscal year ended 12/26/2020? Assume all 'Raw materials and packaging' were used as direct materials. b. Calculate the 'Cost of Goods Manufactured' for PepsiCo for the fiscal year ended 12/26/2020. Using your answer to part b, calculate the 'Total Manufacturing Costs' for PepsiCo for the fiscal year ended 12/26/2020. Consolidated Balance Sheet PepsiCo, Inc. and Subsidiaries December 26, 2020 and December 28, 2019 (in millions except per share amounts) ASSETS Current Assets Cash and cash equivalents Short-term investments Accounts and notes receivable, net Inventories Prepaid expenses and other current assets Total Current Assets Note 15 Supplemental Financial Information Balance Sheet Inventories Raw materials and packaging Work-in-process Finished goods Total 2020 2019 $ 8,185 $ 5,509 1,366 229 8,404 7,822 4,172 3,338 874 747 23,001 17,645 2020 2019 1,720 $ 1,395 205 200 2,247 1,743 $ 4,172 $ 3,338 Consolidated Statement of Income PepsiCo, Inc. and Subsidiaries Fiscal years ended December 26, 2020, December 28, 2019 and December 29, 2018 (in millions except per share amounts) 2020 2019 2018 Net Revenue Cost of sales $ 70,372 $ 67,161 $ 64,661 31,797 30,132 29,381 Gross profit 38,575 37,029 35,280 Selling, general and administrative expenses 28,495 26,738 25,170 Operating Profit 10,080 10,291 10,110 Other pension and retiree medical benefits income/(expense) 117 (44) 298 Net interest expense and other (1,128) (935) (1,219) Income before income taxes 9,069 9,312 9,189 Provision for/(benefit from) income taxes (See Note 5) 1,894 1,959 (3,370) Net income 7,175 7,353 12,559 Less: Net income attributable to noncontrolling interests Net Income Attributable to PepsiCo 55 39 44 $ 7,120 $ 7,314 $ 12,515 SOURCE: you can download the 2020 annual report here: https://www.pepsico.com/docs/album/annual-reports/pepsico-inc-2020-annual-report.pdf? sfvrsn=d25439e4_4