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 15 Units @ $15 = $225 Beginning Inventory at LIFO 15 Units @ $11 = $165 Unit Transactions Cost Total Cost Purchase, January 9 26 $13 $338 Purchase, January 20 51 18 918 Sale, January 21 (at $40 per unit) 37 Sale, January 27 (at S11 per unit) 25 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 to 2 decimal places.) FIFO Inventory tumover ratio LIFO Inventory turnover ratio FC 2. Which costing method is the more accurate indicator of the efficiency of inventory management? em ren stor FIFO LIFO No accuracy difference