Student Accounting Jobs (with S. X + 651353c280d7491df7c01178ed982?response-content-disposition=inline%3Bfilename%3D" ACC1AIS%20-%20Homework%20Exercises%20week Prepare the journal entry to record this payment. Exercise 2-Analysing Inventory - PSB5.5 Page 336 LO8 PSB5.5 Calculate inventory turnover, days in inventory, and current ratio based on FIFO. This information is available for the Automotive and Electronics Divisions of Prestige Motors Ltd for 2018. Prestige Motors uses the FIFO inventory method. (in millions) Beginning inventory Ending inventory Current assets Current liabilities Cost of sales Sales 2018 $ 36 306 36 621 133 089 143 418 353 919 421299 Required (a) Calculate inventory turnover, days in inventory, and current ratio for Prestige Motors Ltd for 2018. (b) If a company has a low inventory turnover or high days in inventory, is it considered to be a good or bad sign for the entity's shareholders? Explain your answer. Page 1 of 2