Question: Current Attempt in Progress Use the following information for Novak Corp., Swifty Corporation, Sheffield Industries, and Evans Services to answer the question Using the

Current Attempt in Progress Use the following information for Novak Corp., Swifty

Current Attempt in Progress Use the following information for Novak Corp., Swifty Corporation, Sheffield Industries, and Evans Services to answer the question "Using the LIFO adjustment, which company shows the greatest improvement in its current ratio from 2021 to 2022?" (amounts in $ millions) Novak Swifty Sheffield Evans Inventory Method for 2022 & 2021 LIFO FIFO LIFO FIFO 2021 Ending inventory assuming LIFO $315 0 $216 0 2021 Ending inventory assuming FIFO $438 $545 $314 $661 2022 Ending inventory assuming LIFO $427 0 $180 0 2022 Ending inventory assuming FIFO $567 $619 $212 $552 2021 Current assets (reported on balance sheet) $1675 $2027 $1306 $2744 2021 Current liabilities $982 $1210 $553 $1208 2022 Current assets (reported on balance sheet) $2226 $2609 $1102 $2383 2022 Crrent liabilities $1314 $1411 2022 Cost of goods sold $4686 $5048 $470 $1010 $2993 $6992 Evans Novak Swifty Sheffield

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