Income statement and balance sheet information abstracted from a recent annual report of The Kroger Company, one of the world's largest retailers, appears below: The significant accounting policies note disclosure contained the following: Inventories (In part) Inventories are stated at the lower of cost (principally on a last-in, first out "LIFO" basis) or market. In total, approximately 95% of inventories were valued using the LIFO method. Cost for the balance of the inventories, including substantially all fuel inventories, was determined using the first-in, first-out ("FIFO") method. Replacement cost was higher than the carrying amount by $1,150 million at February 2, 2014, and $1,098 million at February 2, 2013. Required: Why is Kroger disclosing the replacement cost of its LIFO inventory? Assuming that year-end replacement cost figures approximate FIFO inventory values, estimate what the beginning and ending inventory balances for the fiscal year ended February 2, 2014, would have been if Kroger had used FIFO for all of its inventories. Estimate the effect on cost of goods sold (that is, would it have been greater or less and by how much?) for the fiscal year ended February 2, 2014, if Kroger had used FIFO for all of its inventories