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AmerisourceBergen is an American drug wholesale company. The company uses the LIFO inventory method for...

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AmerisourceBergen is an American drug wholesale company. The company uses the LIFO inventory method for external reporting but maintains its internal records using FIFO. The following information was included in a recent annual report Inventories are comprised of the following (S in millions) Inventories (under FIFO) Less: LIFO reserve Inventories (under LFO) September September 30. 2017 30, 2016 $14,428 $20,856 (1.680 1,882) $12.740 $26.974 The company's income statements reported cost of goods sold of $150.098 million for the year ended September 30, 2017 Required: 1. Prepare the September 30, 2017 adjusting entry to record the cost of goods sold adjustment 2. AmerisourceBergen had used FIFO to report its inventories, what would cost of goods sold have been for the quarter ended September 30, 2017 Complete this question by entering your answers in the tabs below. Required: Required 2 Assume that AmerhourceBergen adjust the uro reserve at the end of its quarter. Prepare the September 30, 2017, adjusting entry to record the cost of goods sold adjustment, if no entry is required for a transaction/event, select "No journal entry required in the first account feld. Enter your answers in millions

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