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Cruz Company uses LIFO for Inventory costing and reports the following financlal data. It also recomputed Inventory and cost of goods sold using FIFO for
Cruz Company uses LIFO for Inventory costing and reports the following financlal data. It also recomputed Inventory and cost of goods sold using FIFO for comparison purposes. 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. inventorv turnover. and davs' sales in inventorv for Year 2 usina LIFO (b) Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using FIFO
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