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Chess company uses lifo for inventory costing and reports

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Chess 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.


 2011
2010
LIFO inventory $ 270
$ 220
LIFO cost of goods sold
850

790
FIFO inventory
340

245
FIFO cost of goods sold
805

-
Current assets (using LIFO)
330

300
Current liabilities
180

160

How to get the current ratio by using FIFO and what is the number of "current assets" by using FIFO??

Reference no: EM13482887

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