What would the balance sheet inventory amounts have been as of September 30, 2013 and 2012, if all inventories had been reported on a FIFO basis?

-9- UV6849 Exhibit 1 (continued) Panel C NOTEInventories Inventories are stated at the lower of cost or market. Depending on the business unit, cost is determined by either the last-in-first-out (LIFO) or the first-in-first-out (FIFO) method. The following table provides details about inventories: Inventories (in millions) at September 30 2013 2012 $ Finished goods Work in process Raw materials Supplies Total 4,900 2,000 900 700 8,500 4,400 1,700 850 750 7,700 $ $ The reserves reducing inventories from a FIFO basis to a LIFO basis amounted to $800 million at September 30, 2013 and $650 million at September 30, 2012. Inventories valued on a LIFO basis represented 30 percent of the total inventories at September 30, 2013 and 32 percent of total inventories at September 30, 2012. A decrease in the level of certain domestic inventories resulted in the liquidation of some of the company's LIFO inventory layers, increasing pretax income $88 million in 2013, $130 million in 2012 and $160 million in 2011. -9- UV6849 Exhibit 1 (continued) Panel C NOTEInventories Inventories are stated at the lower of cost or market. Depending on the business unit, cost is determined by either the last-in-first-out (LIFO) or the first-in-first-out (FIFO) method. The following table provides details about inventories: Inventories (in millions) at September 30 2013 2012 $ Finished goods Work in process Raw materials Supplies Total 4,900 2,000 900 700 8,500 4,400 1,700 850 750 7,700 $ $ The reserves reducing inventories from a FIFO basis to a LIFO basis amounted to $800 million at September 30, 2013 and $650 million at September 30, 2012. Inventories valued on a LIFO basis represented 30 percent of the total inventories at September 30, 2013 and 32 percent of total inventories at September 30, 2012. A decrease in the level of certain domestic inventories resulted in the liquidation of some of the company's LIFO inventory layers, increasing pretax income $88 million in 2013, $130 million in 2012 and $160 million in 2011