The current assets of Exxon Mobil Corporation follow:

2014 2013

Current assets

Cash and cash equivalents $13,068 $8,453

Notes and accounts receivable, less estimated doubtful amounts $38,642 $32,284

Inventories

Crude oil, products and merchandise $12,665 $10,852

Materials and supplies $3,359 $3,124

Other current assets $6,229 $5,271

Total current assets $73,963 $59,984

• Exxon Mobil reported pretax earnings of $73,257 million in 2014. What amount of pretax earnings would have been reported by the company if inventory had been reported using the FIFO costing method?

• Exxon Mobil reported cost of goods sold of $266,534 million in 2014. Compute its inventory turnover ratio for 2014 using total inventories (Round your answer to one decimal place.) (I got the answer and its correct (11.1)

• BP, p.l.c. (BP) reports its financial information using IFRS. For fiscal year 2014, BP reported cost of goods sold of $288,618 million, beginning inventory of $26,218 million and ending inventory of $25,661 million. Compute BP's inventory turnover ratio for fiscal year 2014. (Round your answer to one decimal place.) (I got the answer and its correct (11.1)

• Compare your answers in parts b and c. BP can't use LIFO to report under IFRS, so, revise your calculations in such a way as to find out which company has faster inventory turnover. (Hint: Calculate Exxon Mobil's inventoryturnover ratio as if Exxon Mobil used the FIFO costing method.)(Round your answer to one decimal place.)

I need help with the first and last questions please....I provided the correct answers for questions 2 and 3