The following note was conteined in a recent Visions 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 Visions had used only FIFO? 2. The cost of goods sold reported by Visions Motor Company for the current year was $127,129 million. Determine the cost of goods sold that would hove been reported if Visions had used only FIFO for both years. 3. To lower the cash outflows for taxes, which of the following should the Visions Motor 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 Visions had used only fIFO? Note: Enter your answer in millions. About one-thitd of inventories were determined under the last-in, first-out method. Requifedt 1. What emount of ending inventory would have been reported in the current year if Visions had used anly FFFO? 2. The cost of goods sold reported by Visions Motor Compary for the current year was $127,129 million. Determine the cost of goods sold that would have been reported if Visions had used only FFO for both years. 3. To lower the cash outhows for taxes, which of the following should the Visions Motor manngement choose to use for certain of its imventories when the costs are rising? Complete this question by entering your answers in the tabs below. The cost of goods sold reported by visions Motor Company for the current year was $127,129 million. Determine the cost of poods sold that would have been reported if Visions had used only FIFO for both years. Note: Enter your answer in millions. The following note was contahed in a recent Visions Moror Compony annual repart: 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 curtent yeat if Veions had wised onfiy Fifo? sold that would heve been reported if Visions had used only fifo for both years ifventories when the costs are rising? Complete this question by entering your answers in the tabs below. To lower the cash outtiows for taxes, which of the following should the Visions Motor managemenk choose to use for certain of its inventories when the costs are rising? Which of the following should the Visions maragement choose to use for certain of ts inventories whan the cosis are rising