Question: Calculate the inventory turnover ratio for 2017 using the LIFO and FIFO cost-flow assumption methods. Explain why the cost assigned to inventory under LIFO at

Calculate the inventory turnover ratio for 2017 using the LIFO and FIFO cost-flow assumption methods. Explain why the cost assigned to inventory under LIFO at the end of 2016 and 2017 are so much less than they are under FIFO.

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