Question: LIFO inventory $ 3 1 0 $ 2 6 0 LIFO cost of goods sold 8 9 0 8 3 0 FIFO inventory 3 8

LIFO inventory $ 310 $ 260
LIFO cost of goods sold 890830
FIFO inventory 380285
FIFO cost of goods sold 845830
Current assets (using LIFO)370340
Current assets (using FIFO)440
365
Current liabilities 185165
1. Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using
(a) LIFO numbers and
(b) FIFO numbers.

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