AnsgarPharm is an American drug wholesale company. The company uses the LIFO inventory method for external reporting but maintains its internal records using FIFO. The following information was included in a recent annual report: Inventories are comprised of the following ($ in millions): Inventories (under FIFO) Less: LIFO reserve Inventories (under LIFO) September 30, 2019 September 30, 2018 $ 13,228 (1,500) $ 11,728 $ 26,456 (1,666) $ 24,790 The company's income statements reported cost of goods sold of $148,898 million for the year ended September 30, 2019. Required: 1. Prepare the September 30, 2019, adjusting entry to record the cost of goods sold adjustment. 2. If AnsgarPharm had used FIFO to report its inventories, what would cost of goods sold have been for the year ended September 30, 2019? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the September 30, 2019, adjusting entry to record the cost of goods sold adjustment. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions. View transaction list Journal entry worksheet < 1 Record the cost of goods sold adjustment for the LIFO reserve. Note: Enter debits before credits. Date September 30, 2019 General Journal Debit Credit Complete this question by entering your answers in the tabs below. Required 1 Required 2 If AnsgarPharm had used FIFO to report its inventories, what would cost of goods sold have been for the year ended September 30, 2019? Note: Enter your answer in millions. Cost of goods sold $ 166 million