John Deere uses the LIFO inventory cost flow assumption, reporting inventories on its 2019 balance sheet of $5.975 billion and a LIFO reserve of approximately $1.670 billion. What would be Deeres 2019 inventory balance if it used the FIFO assumption instead? Why is the disclosure of the LIFO reserve useful to financial statement users?

Required:

After completing Brief Exercise 7-3 provide the following answer:

If John Deere used the FIFO inventory cost flow assumption instead of LIFO, what would be the amount of its inventory balance for 2019? Enter your answer in billions (round your answer to 3 decimal places).