This question pertains to Steelcases annual report (in supplementary materials) dated on February 26, 2010. Please answer the following questions based on the financial reports:

Required: 1. (3 points) What is the net book value of Steelcases Inventories at the end of fiscal year 2010?

2. (8 points) Suppose Steelcase had used First-In-First-Out (FIFO) as the cost flow assumption for all of their Inventories. What would the following 2010 financial statement items be?

CONSOLIDATED BALANCE SHEETS (in millions, except share data) CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share data) CONSOLIDATED BALANCE SHEETS-(Continued) (in millions. except share data) CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (in millions, except share and per share data) CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) CONSOLIDATED BALANCE SHEETS (in millions, except share data) CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share data) CONSOLIDATED BALANCE SHEETS-(Continued) (in millions. except share data) CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (in millions, except share and per share data) CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions)