Financial analysis is affected by the methods or standards used in creating the financial statements. The current ratio can be affected by the inventory costing method selected. Which inventory costing method provides a higher current ratio?

LIFO

FIFO

Average

The ratio is not actually affected by the costing method selected

None of the answers provided is correct

Footnotes: 1. Where appropriate use a 360 day year 2. Common shares outstanding: 25,000 3. Preferred shares outstanding: 5,000 4. Preferred Dividends: $5,000 5. Common Dividends: $9,000 6. Common Stock Market Price Per Share: $33.00 7. Earnings Per Share: $1.80 Per Share Josiah's Total Asset Turnover Ratio can be determined as: .8421 1.1876 2.1473 Cannot be determined from information provided None of the answers provided is correct