5 Check n 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. Year 2 Year 1 LIFO inventory $ 260 $ 210 LIFO cost of goods sold 840 780 eBook FIFO inventory 330 235 FIFO cost of goods sold 795 780 Current assets (using LIFO) 320 290 Hint Current assets (using FIFO) Current liabilities 390 185 315 165 1. Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using (a) LIFO numbers and (b) FIFO numbers. (a) Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using LIFO numbers. Current ratio Numerator Denominator Ratio Inventory turnover Days' sales in inventory (b) Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using FIFO numbers. Current ratio Inventory turnover Days' sales in inventory Numerator / Denominator Ratio