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 519 = $342 Beginning inventory at LIFO 18 Units S15 = 5270 TOT Purchase. January Purchar. Jy 30 Sale, January 21 ( 19 pert) Sale January 27 (ut 140 pert) 26 54 30 30 Court 317 22 Total Cut $ 42 1. 100 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? Answer is complete but not entirely correct. 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 turnover ratio LIFO Inventory turnover ratio 217 323 Required 1 Required 2 >