You have been given responsibility for overseeing a bank's small business loans division. The bank has Included loan covenants requiring a minimum current ratio of 1.8 in all small business loans. When you ask which inventory costing method the covenant assumes, the previous loans manager glves you a blank look To explain to him that a company's inventory costing method is important, you present the following balance sheet Information. Current assets other than Inventory Inventory Other (noncurrent) assets $ 10 107 s (b) $ 36 Total assets Current liabilities Other (noncurrent) liabilities Stockholders' equity Total Iilabililties and stockholders' equity s (c) You ask the former loans manager to find amounts for (a), (b), (c, and (d) assuming the company began the year with 5 units of inventory at a unit cost of $11, then purchased 8 units at a cost of $12 each, and finally purchased 6 units at a cost of $16 each A year-end inventory count determined that 4 units are on hand value 10.00 points Required: 1. Determine the amount for (a) using FIFO, and then calculate (b) through (d). Amount Inventory Total Assets 1. value 10.00 points Required: 1. Determine the amount for (a) using FIFO, and then calculate (b) through (d). Inventory Total Assets Total Liabilities and Stockholders' Equity Stockholders' Equity