In Millions	May 31, 2020	May 26, 2019
Receivables:
Customers	$1,648.3	$1,708.5
Less allowance for doubtful accounts	(33.2)	(28.8)
Total	$1,615.1	$1,679.7

In Millions	May 31, 2020	May 26, 2019
Inventories:
Finished goods	$1,142.6	$1,245.9
Raw materials and packaging	392.2	434.9
Grain	93.6	92.0
Excess of FIFO over LIFO cost(a)	(202.1)	(213.5)
Total	$1,426.3	$1,559.3
(a) Inventories of $892.6 million as of May 31, 2020, and $974.8 million as of May 26, 2019, were valued at LIFO. The difference between replacement cost and the stated LIFO inventory value is not materially different from the reserve for the LIFO valuation method.

Assume that the Company charged $16 million as bad debt expense in 2020. Compute the amount of bad debts written off in 2020.

Compute the amount of cash collected from customers during the year ended May 31, 2020.

What cost flow assumption(s) for inventories does Maple Tree use?

Suppose that Maple Tree had in all periods used FIFO as their cost flow assumption for all their inventories. What would have been Maple Trees' book value of inventories at the end of fiscal year 2020 under this alternative cost flow assumption?

What is the amount of inventory purchases in fiscal year 2020?

If Maple Tree used FIFO as a cost flow assumption for all of their inventories, recalculate the value of COGS on a FIFO basis in fiscal year 2020.

BALANCE SHEETS Liabilities and stockholders' equity Current liabilities: Accounts payable Current portion of long-term debt Accrued compensation Short-term income taxes Short-term unearned revenue Other current liabilities Total current liabilities Long-term debt Long-term income taxes Long-term unearned revenue Deferred income taxes Operating lease liabilities Other long-term liabilities Commitments and contingencies Stockholders' equity: \begin{tabular}{lrr} Common stock and paid-in capital - shares authorized 24,000; outstanding 7,571 and 7,643 & 80,552 & 78,520 \\ Retained earnings & 34,566 & 24,150 \\ Accumulated other comprehensive income (loss) & 3,186 & (340) \\ \hline Total stockholders' equity & 118,304 & 102,330 \\ \hline Total liabilities and stockholders' equity & $301,311 & $286,556 \\ \hline \hline \end{tabular} BALANCE SHEETS Liabilities and stockholders' equity Current liabilities: Accounts payable Current portion of long-term debt Accrued compensation Short-term income taxes Short-term unearned revenue Other current liabilities Total current liabilities Long-term debt Long-term income taxes Long-term unearned revenue Deferred income taxes Operating lease liabilities Other long-term liabilities Commitments and contingencies Stockholders' equity: \begin{tabular}{lrr} Common stock and paid-in capital - shares authorized 24,000; outstanding 7,571 and 7,643 & 80,552 & 78,520 \\ Retained earnings & 34,566 & 24,150 \\ Accumulated other comprehensive income (loss) & 3,186 & (340) \\ \hline Total stockholders' equity & 118,304 & 102,330 \\ \hline Total liabilities and stockholders' equity & $301,311 & $286,556 \\ \hline \hline \end{tabular}