The records at the end of January 2012 for Captain Company showed the following for a particular kind of merchandise: Inventory, December 31, 2011, at FIFO: 14 Units @ \$16 = \$224 Inventory, December 31, 2011, at LIFO: 14 Units @ \$12 = \$168 Required: 1. Compute the inventory turnover ratio under the FIFO and LIFO inventory costing methods. (Do not round intermediate calculations and round your final answers to 2 decimal places.)