Reformulating Balance Sheet and Income Statement Items for LIFO to FIFO

In its December 2019 10-K, LyondellBasell Industries reported the following information ($ millions).

Cost of Goods Sold	Inventories	LIFO Reserve	Decrease in LIFO Reserve	Total Assets	Net Income
$29,301	$4,588	$670	$128	$30,435	$3,397

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 22% tax rate.

Note: Round answers to the nearest whole number.

Account	Balance
a. Inventories	Answer
b. Total assets	Answer
c. Cost of goods sold	Answer
d. Net income	Answer