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: 16 Units@ $19 Beginning Inventory at LIFO: 16 Units$15 $304 $240 Unit Transactions Units Cost 27 52 36 26 Total Cost $ 459 1,144 $17 Purchase, January 9 Purchase, January 20 Sale, January 21 (at $39 per unit) Sale, January 27 (at $40 per unit) Required: 1. 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 t decimal places.) FIFO Inventory turnover ratio LIFO Inventory turnover ratio 2.29 3.99 2. Which costing method is the more accurate indicator of the efficiency of inventory management? FIFO LIFO No accuracy difference