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 515 $240 Beginning inventory at LIFO: 16 Units $11 - $176 Unit Cost January Transactions Purchase, January 9 Purchase, January 20 Sale, January 21 (at $42 per unit) Sale, January 27 (at 643 per unit) Unita 27 53 38 26 $13 18 Total Coat $351 954 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? Complete this question by entering your answers in the tabs below. Required 1 Required 2 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