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The records at the end of January of the current year for Young Company showed the following for a particular kind of merchandise: Beginning Inventory
The records at the end of January of the current year for Young Company showed the following for a particular kind of merchandise: Beginning Inventory at FIFO: 19 Units @ $19 = $361 Beginning inventory at LIFO: 19 Units @ $15 = $285 Compute the inventory turnover ratio for the month of January under the FIFO and LIFO inventory costing methods. (Do not round intermediate calculations and round your final answers to 2 decimal places.)
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