Simple Plan Enterprises uses a periodic inventory system. Its records showed the following: Inventory, December 31, using FIFO44 Units @ $17 = $748 Inventory, December 31, using LIFO 44 Units @ $13 $572 Transactions in the Following Year Purchase, January 9 Purchase, January 20 Sale, January 11, (at $41 per unit) Sale, January 27 (at $42 per unit) Units Unit Cost Total Cost $18 19 56 1,008 2,014 106 86 62 Required: 1. 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 FIFO LIFO Number of Goods Available for Sale (Units) 3,770 Cost of Goods Available for Sale Cost of Ending Inventory 1,102 Cost of Goods Sold 2. Compute the inventory turnover ratio under the FIFO and LIFO inventory costing methods. (Round your answers to 2 decimal places.) LIFO FIFO Inventory Turnover Ratio