Analyzing an Inventory Footnote Disclosure Illinois Tool Warks reports the following footnote in its 10-K report. The company reports its inventories using the LIFD imventory costing method. (a) What is the balance in inventories reported on ITW's 2018 balance sheet? 1+ (million) (b) What would ITW's 2018 balance sheet have reported for invencorles had the company used FFo inventory costing? (million) (c) What cumulative effect has TW's choice of LIFO over FIFO had on its pretax income as of year end 2018 ? Mark 1.00 out of 1.00 over FIFO method for costing inventary? Round your answer to one decimal place. Use a negative sign with answer, if ITW paid more in taxes by choosing LIFO. 1 (million) (e) What effect has the use of LFO invertary costing had on ITW' pretax income and tax expense for 2018 only (assume a 21% income tax ratej? Round answers to one detimal place, when applicable. 2018 pretax income: by 5 million. 2018 tax expense: by $k million. Analyzing an Inventory Footnote Disclosure Illinois Tool Warks reports the following footnote in its 10-K report. The company reports its inventories using the LIFD imventory costing method. (a) What is the balance in inventories reported on ITW's 2018 balance sheet? 1+ (million) (b) What would ITW's 2018 balance sheet have reported for invencorles had the company used FFo inventory costing? (million) (c) What cumulative effect has TW's choice of LIFO over FIFO had on its pretax income as of year end 2018 ? Mark 1.00 out of 1.00 over FIFO method for costing inventary? Round your answer to one decimal place. Use a negative sign with answer, if ITW paid more in taxes by choosing LIFO. 1 (million) (e) What effect has the use of LFO invertary costing had on ITW' pretax income and tax expense for 2018 only (assume a 21% income tax ratej? Round answers to one detimal place, when applicable. 2018 pretax income: by 5 million. 2018 tax expense: by $k million