This information (in millions) is available for the Automotive and Other Operations Divisions of General Motors Corporation for a recent year. General Motors uses the LIFO inventory method.

Instructions (a) Calculate the inventory turnover ratio and days in inventory. (b) Calculate the current ratio based on inventory as reported using LIFO.

Beginning inventory Ending inventory LIFO reserve Current assets Current liabilities Cost of goods sold Sales revenue $ 13,921 14,939 1,423 60,135 70,308 166,259 178,199