Analyzing trventory Examining the recent financial statements of Mclelland Clothing, Inc, you note the following: Required; 1. Calculate Mctelland's geoss profit ratio (rounded to two decimal places), irventory turnover ratio (rounded to three decimal places), and the average days to sell inventory (assume a 365 -day year and round to two decimal places) using the fifo inventory costing method, 2. Calculate Mctelland's oross profit ratio (rounded to two decimal places), inventory tumover ratio (rounded to three decimal ploces), and the average days to sell inventory (assume a 365-day year and round to two decimal places) using the Lifo inventory costing method. 3. Conceptual Connection: Which ratios - the ones computed using FIFO or LFF inventory values-provide the better indicator of how successful McLelland was at managing and controlling its inventory