The following information was taken from General Mills 2017 annual report: Fiscal Year 2017 2016...
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The following information was taken from General Mills 2017 annual report: Fiscal Year 2017 2016 2015 Net sales 15,619.8 $ 16,563.1 $ 17,630.3 Cost of sales 10,056.0 10,733.6 11,681.1 May 28, 2017 May 29, 2016 In Millions Inventories: Raw materials and packaging Finished goods Grain Excess of FIFO over LIFO cost (a) Total Inventory (Balance Sheet) $ 395.4 1,224.3 73.0 (209.1) $1,483.6 $ 397.3 1,163.1 72.6 (219.3) $1,413.7 What would General Mills year ending May 28, 2017 cost of goods sold have been had it used FIFO rather than LIFO for all its inventories (in millions to the tenths, e.g. 6.2)
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