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$)$:

September $30,2019$ September $30,2018$

Inventories $($under FIFO$)$ $ $13,328$ $ $26,656$

Less: LIFO reserve $(1,515)(1,684)$

Inventories $($under LIFO$)$ $ $11,813$ $ $24,972$

The company$$s income statements reported cost of goods sold of $$148,998$ million for the year ended September $30,2019.$

Required:

Prepare the September $30,2019,$ adjusting entry to record the cost of goods sold adjustment.

If AnsgarPharm had used FIFO to report its inventories, what would cost of goods sold have been for the year ended September $30,2019?$Inclued all steps and calculations please