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 $ 190 770 260 725 Year 1 $ 140 710 165 LIFO inventory LIFO cost of goods sold FIFO inventory FIFO cost of goods sold Current assets (using LIFO) Current assets (using FIFO) Current liabilities 250 320 170 220 245 150 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 1 Denominator Ratio Current ratio $ 250.0 / $ 170.0 1.5 to 1 $ $ - 5.1 times Inventory turnover Days' sales in inventory 770.0 / 365.0 / 150.0 4.7 $ $ x 365 = 28345.7 days (b) Compute its current ratio, inventory turnover, and days' sales in inventory for year 2 using FIFO numbers. Numerator / Denominator Ratio Current ratio $ 320.0 / 0 Inventory turnover 0 Days' sales in inventory 0