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. 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 $ 350 930 420 885 419 480 165 Year 1 $300 870 325 870 380 405 145 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 1 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 Denomina Ratio Ourrent ratio Inventory turnover Days' sales in inventory 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 1 140 yie 165 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 $ 190 28 260 25 299 320 179 719 229 245 15e 1. Compute its current ratio, Inventory turnover, and days sales in Inventory for Year 2 using (a) LIFO numbers and (D) FIFO numbers. (a) Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using LIFO numbers. Numerator Denominator Ratio 0 Current ratio 0 Inventory turnover Days' sales in inventory 0 (b) Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using FIFO numbers. Numerator 1 Denominator Ratio 0 Current ratio 0 Inventory turnover Days' sales in inventory 0