1. Fifo turnover ratio?
2. Lifo turnover ratio?

Beginning Inventory at FIFO: 15 Units @ \$15 = \$225 Beginning Inventory at LIFO: 15 Units @ \$11=\$165 1. Compute the inventory turnover ratio for the month of January under the FIFO and LIFO inventory costing methods. 2. Which costing method is the more accurate indicator of the efficiency of inventory management? Answer is not complete. Complete this question by entering your answers in the tabs below. Compute the inventory turnover ratio for the month of January under the FIFO and LIFO inventory costing methods. (Do not round intermediate calculations and round your final answers to 2 decimal places.)