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. Year 2 Year 1 LIFO inventory $ 350 $ 300 LIFO cost of goods sold 930 870 FIFO inventory 420 325 FIFO cost of goods sold 885 870 Current assets (using LIFO) 410 380 Current assets (using FIFO) 480 405 Current liabilities 165 145 1. Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using (a) LIFO numbers and (b) FIFO numbers.

1. Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using (a) LIFO numbers and (b) FIFO numbers. (a) Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using LIFO (b) Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using FIFO