Check my wor 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. 15 Units a $19 = $285 Beginning Inventory at LIFO15 Units o $15 - $225 January Transaction Purchase, January Purchase, January 20 Sale, January 21 (at $41 per unit) Sale, January 27 (at 542 per unit) Unit Cont $17 22 Unita 26 53 40 26 Total Coat $442 Required: 1. Compute the inventory turnover ratio for the month of January under the FIFO and UFO inventory costing methods. 2. Which costing method is the more accurate indicator of the efficiency of inventory management? Complete this question by entering your answers in the tabs below. Required: Required 2 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 tumover ratio Required 2 di I 09 MacBook Pro 888 1 96 0 > & 7 00+ -0 TI 5 9 R T Y U o { [ F G H J L V > V B N M