Use the following hypothetical data for Walgreens in Years 11 & 12 to project revenues, cost of goods sold, and inventory for Year +1. Assume that Walgreens's Year +1 revenue growth rate, gross profit margin, & inventory turnover will be identical to Year 12. Project the average inventory balance in Year +1 and use it to compute the implied ending inventory balance.

Walgreens (data in millions) Year 11 Year 12

Sales Revenues - $53,762 $59,034

Cost of Goods Sold - $38,518 $42,391

Ending Inventory - $6,791 $7,249