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: 19 Units @ $17 = $323

Inventory, December 31, 2011, at LIFO: 19 Units @ $13 = $247

Transactions	Units	Unit Cost						Total Cost
Purchase, January 9, 2012	28		$	15				$420
Purchase, January 20, 2012	52			20				1,040
Sale, January 21, 2012 (at $39 per unit)	39
Sale, January 27, 2012 (at $40 per unit)	29

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.)

What is the inventory turnover rate for FIFO?

What is the inventory turnover rate for LIFO?