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QUESTION 14 The 2013 financial statements of Walgreen Co. reported the following information (in millions). 2013 2012 Cost of goods sold $51,098 $51,291 Inventory 6,852
QUESTION 14
The 2013 financial statements of Walgreen Co. reported the following information (in millions).
|
| 2013 | 2012 |
| Cost of goods sold | $51,098 | $51,291 |
| Inventory | 6,852 | 7,036 |
| LIFO reserve | 2,100 | 1,897 |
If Walgreens had used the FIFO method of inventory costing, the value of its 2013 inventory would have been ________.
| None of these choices are correct. | ||
| $4,752 | ||
| $6,852 | ||
| $8,952 | ||
| $7,036 |
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