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 for the year: Calculate the compary's (a) LIFO imventory reserve and (b) current ratio assuming (i) FFO and (ii) LIFO, If the company's LFO gross profit was 510,000,000 and the change in the LFO inventory reserve from the prior year to the current year was $1,200,000 calculate the company 5 gross profit under fiFO. Round current rakio to two decimal points