Module 6a Section 4

D ecemb er 31 i n mi l l i o n s r aw m at erials and

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

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? $ 11460 (million) (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? $ 11864 (million)...
View Full Document

Ask a homework question - tutors are online