Unformatted text preview: cemb er 31 (i n mi l l i o n s)
R aw m at erials and work in proc es s
F inis hed goods 2010 2009 $ 6, 973 $ 7, 581
4, 435 4, 105 Les s rev aluat ion t o LI F O 456 759 11, 864 U nbilled s hipm ent s 12, 445 (404) (529) $ 11, 460 $ 11, 916 The c ompany reports its inventories us ing the LIFO inventory c os ting method.
(a) W hat is the balanc e in inventories reported on GE's 2010 balanc e s heet?
(b) W hat would GE's 2010 balanc e s heet have reported for inventories had the c ompany us ed
FIFO inventory c os ting?
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This note was uploaded on 10/12/2013 for the course ACCT 6015 taught by Professor Satin during the Winter '09 term at CSU East Bay.
- Winter '09