The financial statements of Walgreen Co. reported the following information (in millions). Cost of sales Inventories,...

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The financial statements of Walgreen Co. reported the following information (in millions). Cost of sales Inventories, net LIFO reserve Year 2 Year 1 $51,291 7,036 1,897 $51,098 6,852 2,100 If Walgreen's had used the FIFO method of inventory costing, Year 2 COGS would be? The financial statements of Walgreen Co. reported the following information (in millions). Cost of sales Inventories, net LIFO reserve Year 2 Year 1 $51,291 7,036 1,897 $51,098 6,852 2,100 If Walgreen's had used the FIFO method of inventory costing, Year 2 COGS would be?

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To calculate the cost of goods sold COGS using the FIFO FirstIn FirstOut method we need to consider ... View the full answer