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help Exercise 5-18 (Algo) Comparing LIFO numbers to FIFO numbers; ratio analysis LO A3 Cruz Company uses LIFO for inventory costing and reports the following
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Exercise 5-18 (Algo) Comparing LIFO numbers to FIFO numbers; ratio analysis LO A3 Cruz Company uses LIFO for inventory costing and reports the following financial data. It also recomputed inventory and cost of good: 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. (8) Answer is complete but not entirely correct. (o) Compute its current ratio, inventory tumovet, and days" sales in inventory for Year 2 using Lifo (b) Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using FFFo Step by Step Solution
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