The following information was taken from the footnotes in the 2014 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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2014 2013 Raw materials and supplies Goods in process Finished goods $1,214 $1,224 2,461 2,612 4,042 4,509 $8,184 $7,878