Suppose this information (in millions) is available for the Automotive and Other Operations Divisions of General Motors Corporation for a recent year. General Motors Corporation uses the LIFO inventory method.

Calculate the inventory turnover and days in inventory. (Round answers to 1 decimal place, e.g. 5.1.)

The inventory turnover			times
Days in inventory			days

Calculate the current ratio based on inventory as reported using LIFO. (Round answer to 2 decimal places, e.g. 5.12.)

The current ratio based on inventory using LIFO

:1

Calculate the current ratio after adjusting for the LIFO reserve. (Round answer to 2 decimal places, e.g. 5.12.)

The current ratio after adjusting for the LIFO reserve

:1