Dropdowns are Increased/Decreased for C&E

D Dropdowns is Higher/Lower

Analyzing an Inventory Footnote Disclosure The inventory footnote from Deere \& Company's 2015 10-K follows. classification at October 31 in millions of dollars would have been as follows: a. What amount does Deere report for inventories on its 2015 balance sheets? \$ nillion b. What would Deere have reported as inventories on its 2015 balance sheet had the company used FIFO inventory costing for all of its inventories? $ million Deere's cumulative pretax income has by $ million since it adopted LIFO inventory costing. (Round answer to one decimal place.) Deere's cumulative income taxes were by $ million as compared to the taxes that would've been paid under the FIFO system. e. What effect has the use of LIFO inventory costing had on Deere's pretax income and tax expense for 2015 only (assume a 35% income tax rate)? (Round answers to one decimal place, if applicable.) 2015 pretax incomi by : million. 2015 tax expense by $ million