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real world Financials Amerisource Bergen is an American c. ug wholesale company. The company uses the LIFO inventory method for external reporting but maintains its

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real world Financials Amerisource Bergen is an American c. ug wholesale company. The company uses the LIFO inventory method for external reporting but maintains its internal records using FIFO. The following disclosure note was included in a recent quarterly report: 5. Inventories (in part) Inventories are comprised of the following ($ in millions): September 30, 2017 September 30, 2016 Inventories (under FIFO) Less: LIFO reserve Inventories (under LIFO) $12,928 (1.467) $11.461 $12,349 (1.625) $10,724 The company's income statements reported cost of goods sold of $148,598 million for the quarter ended September 30, 2017. Required: L. Assume that Amerisource Bergen 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 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 Amerisource Bergen had used FIFO to report its inventories, while would cost of goods sold have been for the quarter ended September 30, 2017

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