Why does he have the Tylenol? Other than for personal use, meds like T have no place in a FAK. He is correct that most FA items can be modified from common objects at hand. I have done it more than once, but I much prefer to have some dedicated items in my kit. Especially are elastic or self adhering bandages, along with a 4x4 or two if we are going all out. While splints can be improvised rather easily, a SAM splint does a superior job IMHO. Bandaids are an EDC item with me (two or so tucked in my wallet) - they cut down wonderfully on the drama when someone gets an owwie.
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Geezer in Chief