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Che Inventories are comprised of the following ($ in millions): Inventories (under FIFO) Less: LIFO reserve Inventories (under LIFO) September September 30, 2017 30, 2016

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Che Inventories are comprised of the following ($ in millions): Inventories (under FIFO) Less: LIFO reserve Inventories (under LIFO) September September 30, 2017 30, 2016 $13,028 $26,056 (1,470) (1,630) $11,558 $24,426 The company's income statements reported cost of goods sold of $148,698 million for the quarter ended September 30, 2017 Required: 1. Assume that AmerisourceBergen adjusts the LIFO reserve at the end of its quarter. Prepare the September 30, 2017, adjusting entry to record the cost of goods sold adjustment. 2. If AmerisourceBergen had used FIFO to report its inventories, what would cost of goods sold have been for the quarter ended September 30, 2017? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume that AmerisourceBergen adjusts the UFO reserve at the end of its quarter. Prepare the September 30, 2017, adjusting entry to record the cost of goods sold adjustment. (Ir no entry is required for a transaction/event, select "No joumat entry required in the first account field. Enter your answers in millions) Che Inventories are comprised of the following ($ in millions): Inventories (under FIFO) Less: LIFO reserve Inventories (under LIFO) September September 30, 2017 30, 2016 $13,028 $26,056 (1,470) (1,630) $11,558 $24,426 The company's income statements reported cost of goods sold of $148,698 million for the quarter ended September 30, 2017 Required: 1. Assume that AmerisourceBergen adjusts the LIFO reserve at the end of its quarter. Prepare the September 30, 2017, adjusting entry to record the cost of goods sold adjustment. 2. If AmerisourceBergen had used FIFO to report its inventories, what would cost of goods sold have been for the quarter ended September 30, 2017? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume that AmerisourceBergen adjusts the UFO reserve at the end of its quarter. Prepare the September 30, 2017, adjusting entry to record the cost of goods sold adjustment. (Ir no entry is required for a transaction/event, select "No joumat entry required in the first account field. Enter your answers in millions)

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