General Electric Company reports the following in its footnote for inventory in its 2012 annual report. General Electric reports it inventories using the LIFO inventory method. What is the balance for inventories that GE reports in its 2012 Balance Sheet? What mould GE's 2012 Balance Sheet haw reported 'or inventories if GE had used FIFO. Since GE adopted LIFO, how much less pretax income had GE reported as of year-end 2012. Assume that GE has a 35% tax rate. As of the 2012 year-end, how much has GE saved in taxes by choosing LIFO over FIFO for costing its inventory. What effect has he use of LIFO for inventory costing had on GE's tax expense for 2012 only (assume a 35% tax rate)