The following information is available for PepsiCo, Inc. (in U.S. $ millions):

In the notes to its financial statements, PepsiCo disclosed that it uses the FIFO and average cost methods to determine the cost of the majority of its inventory.
The industry averages for the inventory turnover, days in inventory, and current ratios are as follows:
_________________________________2012______________2011
Inventory turnover......................7.8 times...............7.4 times
Days in inventory.........................47 days................49 days
Current ratio..........................................1.2:1....................1.1:1
Instructions
(a) Calculate PepsiCo's inventory turnover, days in inventory, and current ratios for 2012 and 2011. Comment on the company's liquidity over the two years, and in comparison with the industry.
(b) What might be the reason that PepsiCo uses more than one cost method to determine the cost of its inventory?

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Cost of goods sold Inventories Current assets Current liabilities 2012 $31,291 3,581 18,720 17,089 2011 $31,593 3,827 17,441 18,154 2010 $26,575 3,372 17,569 15,892