Cruz Company uses LIFO for inventory costing and reports the following financial data. It also...
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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. 1. Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using (a) LIFO numbers and (b) FIFO numbers. (a) Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using LIF numbers (b) Compute its current ratio, inventory turnover, and days' sales in inventory for Year 2 using FIF inventory costing and reports the following financial data. and cost of goods sold using FIFO for comparison iventory turnover, and days' sales in inventory for Year 2 b) FIFO numbers. /entory turnover, and days' sales in inventory for Year 2 using LIFO ventory turnover, and days' sales in inventory for Year 2 using FIFO
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