statements of Walgreen Co. reported the following information (in millions):
Cost of sales
Inventories, net
LIFO reserve
2017
2018
$51,098
$51,291
6,852
7,036
2,100
1,897
The 2018 number of average inventory days outstanding (rounded) is:
A) 49.4 days
B) 33.9 days
C) 21.5 days
D) 50.0 days
E) None of the above
17. The financial statements of Walgreen Co. reported the following information (in millions)
in its financial statements:
Cost of sales
Inventories
LIFO reserve
2018
2017
$51,098
$51,291
6,852
7,036
2,100
1,897
If Walgreen's had used the FIFO method of inventory costing in 2018, the amount of
inventory it would have reported on its balance sheet would have been:
A) $6,852 million
B) $8,952million
C) $4,752 million
D) $7,055 million
E) None of the above
18. The financial statements of Walgreen Co., which uses LIFO, reported the following