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Suppose this information (in millions) is available for the Automotive and Other Operations Divisions of General Motors Corporation for a recent year: General Motors uses
Suppose this information (in millions) is available for the Automotive and Other Operations Divisions of General Motors Corporation for a recent year: General Motors uses the LIFO inventory method. Calculate the inventory turnover and days in inventory. (Round answers to 1 decimal place, e.g. 5.1.) Calculate the current ratio based on inventory as reported using LIFO. (Round answer to 2 decimal places, e.g. 5.1. The current ratio based on inventory using LIFO :1 Calculate the current ratio after adjusting for the LIFO reserve. (Round answer to 2 decimal places, e.g. 5.12.)
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