The following information was taken from the footnotes in the 2012 annual report of Johnson & Johnson:

a. From information in the footnote alone, indicate whether Johnson & Johnson is a retailer, manufacturer, or service firm. Explain.
b. From information in the footnote alone, indicate whether Johnson & Johnson uses the LIFO or FIFO inventory cost flow assumption. Explain.

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2012 2011 Raw materials and supplies Goods in process Finished goods $1,146 $1,206 1,637 3,442 $7,495 $6,285 2,262 3,817