Analyzing and Interpreting the Effects of the LIFO/FIFO Choice on Inventory Turnover Ratio The records at the

Question:

Analyzing and Interpreting the Effects of the LIFO/FIFO Choice on The records at the end of January 2012 for Captain Company showed the following for a particular kind of merchandise:
Inventory, December 31, 2011, at FIFO: 19 Units @ $16 = $304
Inventory, December 31, 2011, at LIFO: 19 Units @ $12 = $228

Required:
Compute the under the FIFO and LIFO inventory costing methods (show computations and round to the nearest dollar). Which costing method is the more accurate indicator of the efficiency of inventory management?Explain.

Unit Cost Total Cost Units 25 Transactions Purchase, January 9, 2012 Purchase, January 20, 2012 January 21, 2012 (at $38

Inventory Turnover Ratio
Inventory Turnover RatioThe inventory turnover ratio is a ratio of cost of goods sold to its average inventory. It is measured in times with respect to the cost of goods sold in a year normally. Inventory Turnover Ratio FormulaWhere,...