Cruz Company uses LIFO for inventory costing and reports the following financial data. It also recomputed inventory and cost of goods sold using FIFO for comparison purposes.

2008 2007 LIFO inventory . . . . . . . . . . . . . . . . . $160 $110 LIFO cost of goods sold . . . . . . . . . . 740 680 FIFO inventory . . . . . . . . . . . . . . . . . 240 145 FIFO cost of goods sold . . . . . . . . . . 660 645 Current assets (using LIFO) . . . . . . . 220 180 Current liabilities . . . . . . . . . . . . . . . 200 170 1. Compute its current ratio, inventory turnover, and days’ sales in inventory for 2008 using

(a) LIFO numbers and

(b) FIFO numbers. (Round answers to the tenth place.) 2. Comment on and interpret the results of part 1.