On your own words,
1. If you could choose three financial statement ratios, in which to utilize and analyze a company for investment, lending, or employment purposes, which three financial statement ratios would you choose, and what information would these ratios provide?
2. Please compare and contrast two of the following inventory valuation methods: first in-first out (FIFO), last in-first out (LIFO), or weighted average. Please explain the benefits of each inventory valuation method you selected and how the inventory is valued.