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 @ $19 = $342

Beginning Inventory at LIFO: 18 Units @ $15 = $270

Unit Cost $17 Transactions Purchase, January 9 Purchase, January 20 Sale, January 21 (at $38 per unit) Sale, January 27 (at $39 per unit) Units 29 54 36 26 Total Cost $ 493 1,188 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 turnover ratio LIFO Inventory turnover ratio 2. Which costing method is the more accurate indicator of the efficiency of inventory management? FIFO O LIFO No accuracy difference