The LIFO Inventory Reserve The Peoria Manufacturing Company uses the LIFO inventory costing method to value its ending inventory. The following data were obtained from the company's accounting records for 2012: Calculate the company's (a) LIFO inventory reserve and (b) current ratio assuming (i) FIFO and (ii) LIFO. If the company's LIFO gross profit was $18,000,000 and the change in the LIFO inventory reserve from 2011 to 2012 was $2,200,000 calculate the company's gross profit under FIFO. Round current ratio to two decimal points. a. LIFO inventory reserve= $ b. Current ratio Gross profit under FIFO= $