C7-1 Part 1 Required: 1. Determine the amount for (a) using FIFO, and then calculate (b) through (d). calculate (b) through (d) Amount Inventory Total Assets Total Liabilities and Stockholders' Equity Stockholders' Equity C7-1 Part 2 calculate (b) through (d), Amount Inventory Total Assets Total Liabilities and Stockholders' Equity Stockholders' Equity C7-1 Part 3 3. Determine the amount for (a) using LIFO, and then calculate (b) through (d). Amount Inventory Total Assets Total Liabilities and Stockholders' Equity Stockholders' Equity C7-1 Part 4 4. Determine the current ratios using (i) FIFO, (ii) Weighted Average, and (ii) LIFO. (Round your answers to 2 decimal places.) Current Ratio FIFO Weighted Average LIFO C7-1 Part 5 5. Determine whether the company would be in violation or compliance with the loan covenant if the company were to use (i) FIFO, (ii) Weighted Average, and (ii) LIFO FIFO Weighted Average LIFO