Required information C7.1 (Algo) Computing and Evaluating Financial Statement Effects of Alternative Inventory Costing Methods (Chapters 2 and 7 ] [LO 2-5, LO 7.3] (The following informanovi applies to the questians cisplayed below) You have been oven resporsiblity for overseeing a bank's small business lonns division. The bank has included losen covenacts requiring a minimum cuerent ratio of t.40 in all small business loens. When you ask which ifiventory costing. method the covenant assumes, the pevious loans mansyer gives you a blank leok. Fo explain to him that a coempony's inventory cossing method is important, you present the following balance shect information of 519 each. A yeue end inentery count determined that 4 units are on hand C7.1 (Algo) Part 2 Required information C7.1 (Algo) Computing and Evaluating Financial Statement Effects of Alternative Inventory Costing Methods (Chapters 2 and 7 ] [LO 2-5, LO 7.3] (The following informanovi applies to the questians cisplayed below) You have been oven resporsiblity for overseeing a bank's small business lonns division. The bank has included losen covenacts requiring a minimum cuerent ratio of t.40 in all small business loens. When you ask which ifiventory costing. method the covenant assumes, the pevious loans mansyer gives you a blank leok. Fo explain to him that a coempony's inventory cossing method is important, you present the following balance shect information of 519 each. A yeue end inentery count determined that 4 units are on hand C7.1 (Algo) Part 2