nalyzing an inventory footnote disclosure general electric company reports the following footnote in its 10-k report. december 31 (in millions) 2008 2007 raw materials and work in process $ 8,710 $ 7,893 finished goods 5,032 5,025 unbilled shipments 561 539 14,303 13,457 less revaluation to lifo (706) (623) $ 13,597 $ 12,834 the company reports its inventories using the lifo inventory costing method. (a) what is the balance in inventories reported on ge's 2008 balance sheet? $answer (million)