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 @ $16 = $288

Beginning Inventory at LIFO: 18 Units @ $12 = $216

Transactions	Units	Unit Cost		Total Cost
Purchase, January 9	27	$	14	$	378
Purchase, January 20	55		19		1,045
Sale, January 21 (at $40 per unit)	40
Sale, January 27 (at $41 per unit)	28

Required:

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=?

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

	FIFO
	LIFO
	No accuracy difference