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Suppose this information is available for PepsiCo, Inc. for 2 0 2 3 , 2 0 2 4 , and 2 0 2 5 .

Suppose this information is available for PepsiCo, Inc. for

2023, 2024,

and

2025 . (

in millions

) 202320242025

Beginning inventory$

2, 000

2, 400

2, 700

Ending inventory

2, 4002, 7002, 800

Cost of goods sold

20, 46023, 46023, 375

Sales revenue

38, 90044, 10044, 020

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