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 @ $$17=$ $$272$

Beginning Inventory at LIFO: $16$ Units @ $$13=$$$208$

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

methods.

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

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$12$

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.$)$

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