Reference no: EM13912710
Analyzing an Inventory Footnote Disclosure
General Electric Company reports the following footnote in its 10-K report.
December 31 (in millions) 2012 2011
Raw materials and work in process $ 9,295 $ 8,735
Finished goods 6,020 4,971
Unbilled shipments 378 485
15,693 14,191
Less revaluation to LIFO (398) (450)
$ 15,295 $ 13,741
The company reports its inventories using the LIFO inventory costing method.
(d) Assume GE has a 35% income tax rate. As of the 2012 year-end, how much has GE saved in taxes by choosing LIFO over FIFO method for costing inventory? (Round your answer to the nearest whole number.)
$________(million)
(e) What effect has the use of LIFO inventory costing had on GE's pretax income and tax expense for 2012 only (assume a 35% income tax rate)? (Round answers to the nearest whole number.)
2012 pretax income:
increased by $__________ million.
2012 tax expense:
increased by $________ million.
What messages does f send to a when processing
: What messages does F send to A when processing the ( repair, A ) notification? What messages does A send upon receipt of these messages from F?
|
Acceleration due to gravity
: Determine how much farther a person can jump on the moon as compared to the earth if the takeoff speed and angle are the same. The acceleration due to gravity on the moon is one sixth what it is on earth
|
What is the expected return on investment of the machine
: The Car Care Garage is considering an investment in a new tune up computer.
|
Legislative leader balance and responsibilities
: How does a legislative leader balance his or her responsibilities to the district's constituents, to all the citizens of the state, to the members of the legislature as a whole, and to the members of his or her own party.
|
Analyzing an inventory footnote
: Analyzing an Inventory Footnote Disclosure.General Electric Company reports the following footnote in its 10-K report.
|
Distance travelled by the muon
: At what altitude does it decay ? What is the distance travelled by the muon during this time in its own frame of reference?
|
Memorial hospital is considering the acquisition
: Memorial Hospital is considering the acquisition of a new diagnostic scanning machine.
|
Compare the time periods
: Empty the ball and fill it with steel balls/iron filings and repeat the experiment. Similarly carry out the experiment with common salt. Compare the time periods obtained in the above three cases.What do you find? Explain your finding.
|
Constitutional rights violated
: Four separate cases involving similar fact situations were consolidated as they presented the same constitutional question. In each case, police officers, detectives, or prosecuting attorney's took a defendant into custody and interrogated him in a p..
|