DUSIICSCULIIN RetuTTLO LOUI 54 My Subscriptions O Plerre Savay Question 5 Not complete Marked out of1.00 P Flag question Reformulating Balance Sheet and Income Statement Items for LIFO to FIFO In its December 2016 10-K, LyondellBasell Industries reported the following information ($ millions). Cost of LIFO Increase in Total Net Goods Sold Inventories Reserve LIFO Reserve Assets Income $25,460 $4,142 $832 $759 $26,775 $4,170 Reformulate the account balance for the following financial statement items assuming the company used FIFO instead of LIFO for its inventory costing method. The company has a 35 % tax rate. Account Balance a. Inventories b. Total assets $Omillion c. Cost of goods sold $ d. Net income Check G Previous Save Answers Next JUN 24 MacBook Air