Question: Analyzing Inventory Disclosure Comparing LIFO and FIFO urrent asset section of the 2014 and 2013 fiscal year end balance sheets of The Kroger Co. are

Analyzing Inventory Disclosure Comparing LIFO and FIFO urrent asset section of

the 2014 and 2013 fiscal year end balance sheets of The Kroger

Analyzing Inventory Disclosure Comparing LIFO and FIFO urrent asset section of the 2014 and 2013 fiscal year end balance sheets of The Kroger Co. are The c presented in the accompanying table: January 31, 2015 February 1, 2014 (S millions) Current assets Cash and temporary cash investments..... . . .. .. Deposits in-transit . Receivables . FIFO inventory $401 958 1,116 6,801 (1,150) 704 $8,830 988 1,266 6,933 (1,245) 701 Prepaid and other current assets. . . . . . . ..$8,911 In addition, Kroger provides the following footnote describing its inventory accounting policy (as- sume the following is their complete disclosure)

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