The following information is available for PepsiCo, Inc. (in U.S. $ millions):

In the notes to its financial statements, PepsiCo disclosed that it uses the FIFO and average cost formulas to determine the cost of the majority of its inventory.
The industry averages for the inventory turnover, days in inventory, and current ratios are as follows:
____________________ 2015_______2014
Inventory turnover..........8.7 times.........9 times
Days in inventory..............42 days........40 days
Current ratio...........................1.3:1............1.1:1
Instructions
(a) Calculate PepsiCo's inventory turnover, days in inventory, and current ratios for 2015 and 2014. Comment on the company's liquidity over the two years, and in comparison with the industry.
(b) What might be the reason that PepsiCo uses more than one cost formula to determine the cost of its inventory?

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2015 20142013 Cost of goods sold $28,384 $30,884 $31,243 2,7203,143 3,409 23,031 20,663 22,203 Current liabilities 17,578 18,092 17,839 Inventories Current assets