4 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. Book Hint b Print rences LIFO inventory LIFO cost of goods sold FIFO inventory Year 2 $ 270 850 340 805 330 400 180 FIFO cost of goods sold Current assets (using LIFO) Current assets (using FIFO) Current liabilities 1. Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using (a) LIFO numbers and (b) FIFO numbers. Current ratio Inventory turnover Days' sales in inventory Year 1 $ 220 790 245 790 300 325 160 (a) Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using LIFO numbers. Current ratio Inventory turnover Days' sales in inventory Numerator 1 Denominator (b) Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using FIFO numbers. Ratio Numerator 1 Denominator Ratio

Cruz Company uses LFO for inventory costing and reports the following financial data. it aiso recomputed inventory and cost of goods sold using FIFO for comparison purposes: 1. Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using (a) LiFO numbers and (b) FIFO numbers