Cruz Company uses LIFO for Inventory costing and reports the following financial data. It also recomputed Invent and cost of goods sold using FIFO for comparison purposes. Year 1 $ 190 760 215 LIFO inventory LIFO cost of goods sold FIFO inventory FIFO cost of goods sold Current assets (using LIFO) Current assets (using FIFO) Current liabilities Year 2 $ 240 820 310 775 300 370 170 270 295 150 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 1 Denominator Ratio Current ratio $ 370.0 / $ 170.0 2.2 to 1 Inventory turnover $ 820.0 1 $ 215.0 3.8 times Days' sales in inventory $ 240.0 / $ 820.0 x 365 = 106.8 days (b) Compute its current ratio, inventory turnover, and days' sales in inventory for year 2 using FIFO numbers. Numerator Denominator Ratio Current ratio $ 300.0 170.0 1.8 to 1 Inventory turnover $ 775.0 / $ 262.5 3.0 times Days' sales in inventory $ 262.5 1 $ 775.0 X 365 = 123.6 days