QUESTION 2 Partially correct 2.67 points out of 6.00 pFlag question Analyzing an Inventory Footnote Disclosure General Electric Company reports the following footnote in its 10-K report. December 31 (in millions) 2010 2009 Raw materials and work in process 6,973 $7,581 4,435 4,105 456 759 Finished goods Unbilled shipments 1,864 12,445 404) (529) $11,460 $ 11,916 Less revaluation to LIFO The company reports its inventories using the LIFO inventory costing method. (a) What is the balance in inventories reported on GE's 2010 balance sheet? $ 0 s(mllion) (b) What would GE's 2010 balance sheet have reported for inventories had the company used FIFO inventory costing? S (million) $ 0