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 $ 240 $ 190 LIFO cost of goods sold 820 760 FIFO inventory 310 215 FIFO cost of goods sold 775 760 Current assets (using LIFO) 300 270 Current assets (using FIFO) Current liabilities 370 295 170 150 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 numbers. Numerator Denominator Current ratio $ Inventory turnover $ 300.0$ 820.0$ 170.0 215.0 Days' sales in inventory $ 240.0 /$ 820.0 Ratio 1.8 to 1 3.8 times 0.3 days (b) Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using FIFO numbers. Numerator Denominator Current ratio $ 370.0 / $ 870.0 Inventory turnover $ 775.0 / Days' sales in inventory $ 310.0/ Ratio 0.4 to 1 0 0