The LIFO Inventory Reserve Alaska Manufacturing Company uses the LIFO inventory costing method to value is ending inventory. The following data were obtained from the company's accounting records Current assets under FFO) 520,000,000 Current liabilities 15.000.000 Inventory under LIFO 7.000.000 Inventory under FIFO 7.700,000 Calculate the company's (a) LIFO inventory reserve and (b) current ratio assuming FIFO and UFO. If the company's LIFO gross profit was $10,000,000 and the change in the $1,400,000, calculate the company's gross profit under FIFO. Round current ratio to two decimal points. inventory reserve was . LIFO inventory reserves $ 200.000 FIFO 1.33 2,100,000 Current ratio Gross profit under fo