Cruz Company uses LIFO for inventory costing and reports the following financial data. It also recomputed inventory
Question:
1. Compute its current ratio, inventory turnover, and days sales in inventory for 2013 using
(a) LIFO numbers
(b) FIFO numbers. (Round answers to one decimal.)
2. Comment on and interpret the results of part1.
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Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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