How is this done??? Please assist me?? Thank you!!

C. nents were used to com- Walmart uses LIFO to account for its inventories. Recent financial statements Wer pile the following information (dollar figures are in millions). LO8-1, L08-7 PROBLEM 8.8A FIFO versus LIFO Comparisons $ Average inventory (throughout the year) ....... Current assets (at year-end) Current liabilities (at year-end) ............ Sales ........ Cost of goods sold ............... Gross profit 45,000 63,278 65,272 482,229 365,086 117,143 Instructions a. Using the information provided, compute the following measures based upon the LIFO method. 1. Inventory turnover. 2. Current ratio (see Chapter 5 for a discussion of this ratio). 3. Gross profit rate (see Chapter 6 for a discussion of this statistic). b. Assuming cost of goods sold would be lower under FIFO, what circumstances must the com- pany have encountered to cause this situation? (Were replacement costs, on average, rising of falling?) c. How would you expect these ratios to differ (i.e., what direction) had the company used instead of LIFO