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: 15 Units @ $20 = $300 Inventory, December 31, 2011, at LIFO: 15 Units @ $16 = $240 Transactions Units Unit Cost Total Cost Purchase, January 9, 2012 27 $ 18 $486 Purchase, January 20, 2012 53 23 1,219 Sale, January 21, 2012 (at $42 per unit) 38 Sale, January 27, 2012 (at $43 per unit) 27 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.)