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Simple Plan Enterprises uses a periodic inventory system. Its records showed the following: Inventory, December 31, using FIFO rightarrow 40 Units @ $17 = $680 Inventory, December 31, using LIFO rightarrow 40 Units @ $13 = $520 Compute the number and cost of goods available for sale, the cost of ending inventory, and the cost of goods sold under FIFO and LIFO. Compute the inventory turnover ratio under the FIFO and LIFO inventory costing methods. (Round your answers to 2 decimal places.) The inventory method used does make a significant difference in the inventory turnover ratio. Yes No