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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

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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 $ 240 818 265 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 $ 298 879 368 825 350 429 178 329 345 158 1. Compute its current ratio, inventory turnover, and days' sales in inventory for year 2 using (a) LIFO numbers and (b) FIFO numbers. (Round your answers to 1 decimal place.) Answer is not complete. (a) Compute its current ratio, inventory turnover, and days' sales in inventory for year 2 using LIFO numbers. Numerator Denominator Ratio Current ratio Is 170.0 Inventory turnover 0 Days sales in 0 inventory (b) Compute its current ratio, inventory turnover, and days' sales in inventory for year 2 using FIFO numbers. Numerator Denominator Ratio 0 0 Current ratio Inventory turnover Days' sales in inventory 0

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