Tear 1 $ 140 710 165 LIFO inventory LIFO cost of goods sold FIFO inventory FIFO cost of goods sold Current assets (using LIFO) Current assets (using FIFO) Current liabilities rear 2 $ 190 770 260 725 250 320 170 220 245 150 . Compute its current ratio, inventory turnover, and days' sales in inventory for year 2 using (a) LIFO numbers and (b) FIFO numbers. Answer is complete but not entirely correct. (a) Compute its current ratio, inventory turnover, and days' sales in inventory for year 2 using LIFO numbers. Numerator 1 Denominator = Ratio Current ratio $ 250.0 / S 170.0 1.5 to 1 $ S 165.0 times Inventory turnover Days' sales in inventory 770.0 / 165.0 X/ 4.7 78.2 $ S 770.0 x 365 = days (b) Compute its current ratio, inventory turnover, and days' sales in inventory for year 2 using FIFO numbers. Numerator 1 Denominator Ratio Current ratio S 320.0 / S 170.0 1.9 to 1 $ 725.01 S 212.5 - 3.4 times Inventory turnover Days' sales in inventory $ 212.5 X 1 S 725.0 x 365 = 107.0 days