Business, 26.09.2019 18:00 abalth2154

Assume general electric company reports the following footnote in its 10-k report. december 31 (in millions) 2016 2015 raw materials and work in process $5,527 $5,042 finished goods 5,152 4,806 unbilled shipments 333 402 11,012 10,250 less revaluation to lifo (697) (661) $10,315 $9,589 the company reports its inventories using the lifo inventory costing method. assume ge has a 35% income tax rate. as of the 2016 year-end, how much has ge saved in taxes by choosing lifo over fifo method for costing inventory?

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Assume general electric company reports the following footnote in its 10-k report. december 31 (in m...

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