Part A 3.0/3.0 points (graded) The following information comes from Walgreens' financial statements for the period ending August 31, 2017 and 2016: "At August 31, 2017 and 2016 inventories would have been greater by $2.1 billion and $2.4 billion, respectively, if they had been valued on a lower of first-in-first-out ("FIFO") cost or market basis. The total carrying value of inventory accounted for under the LIFO method is $5.9 billion and $6.1 billion at August 31, 2017 and 2016, respectively." What is the value of Walgreen's inventory at August 31, 2017 if it had been valued under FIFO? 8 8 Submit You have used 1 of 8 attempts Save Show answer Part B 0.0/3.0 points (graded) By how much has Walgreens reduced its cumulative income taxes payable since the company first began using LIFO instead of FIFO? Assume a constant tax rate of 32%. 0.16 0.16 Submit You have used 1 of 5 attempts Save