[FIFO & LIFO: #13 - #16] The January 28, 2017 (fiscal year 2016) financial statements of CFS reported the following information (in millions). Cost of goods sold Inventories, net LIFO reserve 2016 $2,510 1,650 50 2015 $2,530 1,550 45 13. If CFS had used the FIFO method of inventory costing, 2016 inventory would have been: 14. If CFS had used the FIFO method of inventory costing, 2016 COGS would have been: 15. Calculate the inventory turnover ratio under LIFO for 2016. 16. The 2016 average days inventory outstanding under LIFO is: