Cook Company uses LIFO for inventory costing and reports the following financial data. It also recomputed inventory and cost of goods sold using FIFO for comparison purposes.

1. Compute its current ratio, inventory turnover, and days€™ sales in inventory for 2011 using
(a) LIFO numbers
(b) FIFO numbers. (Round answers to one decimal.)
2. Comment on and interpret the results of part 1.

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2011 2010 LIFO inventory $110 $177 760 828 FIFO inventory.. ..270 457 680 645 Current assets (using LIFO)....250 200 225 180 LIFO cost of goods solcd FIFO cost of goods sold Current liabilities.