Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

Exercise 59

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 2015 using ( a ) LIFO numbers and ( b ) FIFO numbers. (Round answers to one decimal.)
2. Comment on and interpret the results of part 1.