alue: 20.00 points The records at the end of January of the current year for Young Company showed the following for a particular kind of merchandise: Beginning Inventory at FIFO: 18 Units@$18-$324 Beginning Inventory at LIFO: 18 Units@$14- $252 Unit Units Cost $16 21 Total Cost 464 1,113 Purchase, January 9 Purchase, January 20 Sale, January 21 (at $42 per unit) Sale, January 27 (at $43 per unit) 29 53 40 27 Required: 1. Compute the inventory turnover ratio for the month of January under the FIFO and LIFO inventory costing methods. (Do not round intermediate calculations and round your final answers to 2 decimal places.) FIFO Inventory turnover ratio LIFO Inventory turnover ratio 2 Which costing method is the more accurate indicator of the efficiency of inventory management? FIFO No accuracy difference References Book &Resources 07-05 Evaluate