Suppose this information (in millions) is available for the Automotive and Other Operations Divisions of General Motors Corporation for a recent year. General Motors Corporation uses the LIFO inventory method.

Problem 6-7A Suppose this information (in millions) is available for the Automotive and Other Operations Divisions of General Motors Corporation for a recent year. General Motors Corporation uses the LIFO inventory method. Beginning inventory $15,227 Ending inventory 16,245 LIFO reserve 1,290 Current assets 59,884 71,853 Current liabilities Cost of goods sold 174,530 162,752 Sales revenue Calculate the inventory turnover and days in inventory. (Round answers to 1 decimal place, e.g. 5.1.) The inventory turnover times Days in inventory days Calculate the current ratio based on inventory as reported using LIFO. (Roundanswer to 2 decimal places, e.g. 5.12.) The current ratio based on inventory using LIFO :1 Calculate the current ratio after adjusting for the LIFO reserve. (Roundanswer to 2 decimal places, e.g. 5.12.) The current ratio after adjusting for the LIFO reserve By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor