Connect Homework - Chapter 5 6 Saved Help Save & Exit Submit Exercise 5-11 Comparing LIFO numbers to FIFO numbers; ratio analysis LO A1, A3 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. points Year 2 $300 880 370 Year 1 $250 820 275 eBook LIFO inventory LIFO cost of goods sold FIFO inventory FIFO cost of goods sold Current assets (using LIFO) Current assets (using FIFO) Current liabilities 835 360 430 330 355 145 165 References 1. Compute its current ratio, inventory turnover, and days' sales in inventory for year 2 using (a) LIFO numbers and (6) FIFO numbers. (Round your answers to 1 decimal place.) (a) Compute its current ratio, inventory turnover, and days' sales in inventory for year 2 using LIFO numbers. Numerator / Denominator - Ratio Current 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. Numerator / Denominator = Ratio Connect Homework - Chapter 5 i Saved Help Save & Exit Submit FIFO cost of goods sold Current assets (using LIFO) Current assets (using FIFO) Current liabilities 835 360 430 330 355 145 165 1. Compute its current ratio, inventory turnover, and days' sales in inventory for year 2 using (a) LIFO numbers and (b) FIFO numbers. (Round your answers to 1 decimal place.) points eBook (a) Compute its current ratio, inventory turnover, and days' sales in inventory for year 2 using LIFO numbers. Numerator 1 Denominator = Ratio Current ratio Print References Inventory turnover Days' sales in inventory (b) Compute its current ratio, inventory turnover, and days' sales in inventory for year 2 using FIFO numbers. Numerator / Denominator - Ratio Current ratio Inventory turnover Days' sales in inventory