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: 18 Units @ $15 = $270

Beginning Inventory at LIFO: 18 Units @ $11 = $198

JanuaryTransactions

Units Unit Cost Total Cost

Purchase, January 9 29 $13 $377

Purchase, January 20 52 18 936

Sale, January 21 (at $41 per unit) 37

Sale, January 27 (at $42 per unit) 30

Required:

1.Compute the inventory turnover ratio for the month of January under the FIFO and LIFO inventory costing methods.

2.Which costing method is the more accurate indicator of the efficiency of inventory management?