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Calculate cost of goods sold for the year ended august

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Reference no: EM132380290

Brief Exercise : Supplemental LIFO disclosures; Walgreen

Walgreens Boots Alliance. Inc. reported inventories of $2370 million and $2542 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 531,524 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 minions.)

Reference no: EM132380290

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