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Walgreens Boots Alliance, Inc. reported inventories of $2,370 million and $2,542 million in its August 31, 2015, and August 31, 2014, balance sheets, respectively. Cost
Walgreens Boots Alliance, Inc. reported inventories of $2,370 million and $2,542 million in its August 31, 2015, and August 31, 2014, balance sheets, respectively. Cost of goods sold for the year ended August 31, 2015, was $31,524 million. The company uses primarily the LIFO inventory method. A disclosure note reported that if FIFO had been used instead of LIFO, inventory would have been higher by $322 million and $284 million at the end of the August 31, 2015, and August 31, 2014, periods, respectively. Calculate cost of goods sold for the year ended August 31, 2015, assuming Walgreens used FIFO instead of LIFO. (Enter your answer in millions.) Cost of goods sold million
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