43 Below is information extracted from General Electric's 10k December 31 (in millions) Raw Materials and work in process Finished goods Unbilled shipments Current Year Prior Year 5603 5515 2863 2546 246 8712 8341 (2.226) (2.076) 6486 6265 2 points Compute the increase or decrease in the pretax operating profit (loss) that would have been reported for the current year had GE employed FIFO accounting for both years. Indicate whether it was an increase or decrease. (Indicate "increase" or "decrease") difference in beggining inventory diference in ending inventory-difference in cost of goods sold 2.07.2015OLINICDEACE 280 Less LIFO Reserves LIFO value of lettories 44 2 points Assuming a marginal tax rate of 35%, compute GE's cumulative tax savings since adopting LIFO 45 2 points Assuming the same marginal tax rate, compute GE's tax savings this period from using LIFO Activate Windows 45 2 points Assuming the same marginal tax rate, compute GE's tax savings this period from using LIFO