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Walgreens projecting revenues, cost of goods sold and inventory.
PROJECTING REVENUES, COST OF GOODS SOLD, AND INVEN- TORY. Walgreens is a leading chain of drugstores in the United States. Use the following data for Walgreens in Years 7 and 8 to project revenues, cost of goods sold, and inventory for Year +1. Assume that Walgreen's Year +1 revenue growth rate, gross profit margin, and inventory turnover will be identical to Year 8. Project the average inventory balance in Year +1 and use it to compute the implied ending inventory balance.
Walgreens (data in millions)
Year 7
Year 8
Sales Revenues
$53,762
$59,034
Cost of Goods Sold
$38,518
$42,391
Ending Inventory
$ 6,791
$ 7,249
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