The following note was contained in a recent Ford Motor Company annual report: About one-third of inventories were determined under the last-in, first-out method. Required: 1. What amount of ending inventory would have been reported in the current year if Ford had used only FIFO? 2. The cost of goods sold reported by Ford for the current year was $113,345 million. Determine the cost of goods sold that would have been reported if Ford had used only FIFO for both years 3. To lower the cash outlows for taxes, which of the following should the Ford management choose to use for certain of its inventories when the costs are rising? Complete this question by entering your answers in the tabs below. What amount of ending inventory would have been reported in the current year if ford had used only FIFO? (Enter your answer in millions.) The following note was contained in a recent Ford Motor Company annual report: About one-third of inventories were determined under the last-in, first-out method Required: 1. What amount of ending inventory would have been reported in the current year if Ford had used only FIFO? 2. The cost of goods sold reported by Ford for the current year was $113,345 million. Determine the cost of goods sold that would have been reported if ford had used only FIFO for both years. 3. To lower the cash outflows for taxes, which of the following should the Ford management choose to use for certain of its inventories when the costs are rising? Complete this question by entering your answers in the tabs below. The cost of goods sold reported by Ford for the current year was $113,345 million. Determine the cost of goods sold that would have been reported if ford had used only fiFo for both years. (Enter your answer in millions.) The following note was contained in a recent Ford Motor Company annual report: About one-third of inventories were determined under the iast-in, first-out method. Required: 1. What amount of ending inventory would have been reported in the current year if Ford had used only FIFO? 2. The cost of goods sold reported by Ford for the current year was $113,345 milion. Determine the cost of goods sold that would have been reported if Ford had used only FFO for both years. 3. To lower the cash outtlows for taxes, which of the following should the Ford management choose to use for certain of its inventories when the costs are rising? Complete this question by entering your answers in the tabs below. To lower the cash outflows for taxes, which of the following should the ford management chonse to use for certain of its inventories. when the costs are rising? Which of the following should the Ford management choose to ine for cartain of its irmentorizs when tha cobte are issing