BorgWarner Incorporated is a leading global supplier of highly engineered automotive systems and components primarily for powertrain applications. The following note was contained in its recent annual report: Required: 1. What amount of ending inventory would have been reported in the current year if BorgWarner had used only FIFO? 2. The cost of goods sold reported by BorgWarner for the current year was $6,548.7 million. Determine the cost of goods sold that would have been reported if BorgWarner had used only FIFO for both years. 3. To lower the cash outflows for taxes, which of the following should the BorgWarner management choose to use for certain of its inventories when the costs are rising? Complete this question by entering your answers in the tabs below. What amount of ending inventory would have been reported in the current year if BorgWarner had used only FIFO? Note: Enter your answer in millions rounded to 1 decimal place. 1. What amount of ending inventory would have been reported in the current year if BorgWarner had used only FIFO? 2. The cost of goods sold reported by BorgWarner for the current year was $6,548.7 million. Determine the cost of goods sold that would have been reported if BorgWarner had used only FIFO for both years. 3. To lower the cash outflows for taxes, which of the following should the BorgWarner management choose to use for certain of its inventories when the costs are rising? Complete this question by entering your answers in the tabs below. The cost of goods sold reported by BorgWarner for the current year was $6,548.7 million. Determine the cost of goods sold that would have been reported if BorgWarner had used only FIFO for both years. Note: Enter your answer in millions rounded to 1 decimal place. 1. What amount of ending inventory would have been reported in the current year if BorgWarner had used only FIFO? 2. The cost of goods sold reported by BorgWarner for the current year was $6,548.7 million. Determine the cost of goods sold tha would have been reported if BorgWarner had used only FIFO for both years. 3. To lower the cash outflows for taxes, which of the following should the BorgWarner management choose to use for certain of it inventories when the costs are rising? Complete this question by entering your answers in the tabs below. To lower the cash outflows for taxes, which of the following should the BorgWarner management choose to use for certain of its inventories when the costs are rising