The LIFO Inventory Reserve Waterloo Manufacturing Company uses the LIFO inventory costing method to value its ending inventory. The following data were obtained from the company's accounting records: 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 $10,000,000 and the change in the LIFO inventory reserve was $1, 400,000, calculate the company's gross profit under FIFO. Round current ratio to two decimal points. a. LIFO inventory reserve= $ 0 b. Current ratio Gross profit under FIFO= $ 0