Question: Only need help with 11, 12, and 13 Analyzing Effects of LIFO on Inventory Turnover Ratios In addition, the following note was provided in its

 Only need help with 11, 12, and 13 Analyzing Effects of

Only need help with 11, 12, and 13

Analyzing Effects of LIFO on Inventory Turnover Ratios In addition, the following note was provided in its 201710K report: Inventories. Crude oil, products and merchandise inventories are carried at the lower of current market value or cost (generally determined under the last-in, first-out methodLIFO). Inventory costs include expenditures and other charges (including depreciation) directly and indirectly incurred in bringing the inventory to its existing condition and location. Selling expenses and general and administrative expenses are reported as period costs and excluded from inventory cost. Inventories of materials and suplies are valued at cost or less. In 2017, 2016 and 2015 , net income included losses of $10 million, $295 million and $186 million, respectively, attributable to the combined effects of LIFO inventory accumulations and drawdowns. The aggregate replacement cost of inventories was estimated to exceed their LIFO carrying values by $10.8 billion and $8.1 billion at December 31,2017 , and 2016 , respectively. 1 point Exxon Mobil reported pretax earnings of $18,674 million in 2017. What amount of pretax earnings would have been reported by the company if inventory had been reported using the FIFO costing method? (in \$ millions) Type your answer... 1 point Exxon Mobil reported cost of goods sold of $128,217 million in 2017 . Compute its inventory turnover ratio for 2017 using total inventories. Type your answer... 1 point BP, p.l.c. (BP) reports its financial information using IFRS. For fiscal year 2017, BP reported cost of goods sold of $179,716 million, beginning inventory of $17,655 million and ending inventory of $19,011 million. Compute BP's inventory turnover ratio for fiscal year 2017

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