Cruz Company uses LIFO for inventory costing and reports the following financial data. It also recomputed inventory

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Cruz 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.
Cruz Company uses LIFO for inventory costing and reports the

1. Compute its current ratio, inventory turnover, and days' sales in inventory for 2017 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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Related Book For  book-img-for-question

Fundamental Accounting Principles

ISBN: 978-1259536359

23rd edition

Authors: John Wild, Ken Shaw, Barbara Chiappett

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