Sirotka Retail Company began doing business in 20X1. The following information pertains to its first three years of operation: Use the following links to the present value tables to calculate answers. (PV of 1, PVAD of 1, and PVOA of 1) (Use the appropriate factor(s) from the tables provided.) Year 20x1 20X2 20x3 Operating Expenses $60,000 90,000 65,000 Purchases Unit Units Cost 15,000 $20.00 20,000 25.00 5,000 30.00 Sales Unit Units Price 12,000 $ 35 18,000 40 10,000 40 Assume the following: . The income tax rate is 21%. Purchase and sale prices change only at the beginning of the year. Sirotka uses the LIFO cost flow assumption. Operating expenses are primarily selling and administrative expenses. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Required 9 Required 10 How can the physical turnover of inventory (that is, true inventory turnover) best be approximated using all of the information available in a LIFO financial statement? Illustrate your approach by recomputing Sirotka's inventory turnover ratios for 20X2 and 20X3. (Round your answers to 3 decimal places.) 20X2 20X3 Adjusted inventory turnover