Business, 11.03.2020 21:37 casianogabriel2004

Cruz Company uses LIFO for inventory costing and reports the following financial data. It also recomputed inventory and cost of goods sold using FIFO for comparison purposes. Year 2 Year 1 LIFO inventory $ 250 $ 200 LIFO cost of goods sold 830 770 FIFO inventory 320 225 FIFO cost of goods sold 785 — Current assets (using LIFO) 310 280 Current assets (using FIFO) 380 305 Current liabilities 165 145 1. Compute its current ratio, inventory turnover, and days' sales in inventory for year 2 using (a) LIFO numbers and (b) FIFO numbers. (Round your answers to 1 decimal place.)

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Cruz Company uses LIFO for inventory costing and reports the following financial data. It also recom...

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