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Below are selected numbers extracted from Schwin's Year X2 financial statements (numbers are in thousands). Schwin's Footnote on inventories is as follows (numbers in thousands): Inventories at October 31 consisted of the following $\downarrow$ \begin{tabular}{|l|l|l|} \hline & \multicolumn{1}{|c|}{ Year: } & \multicolumn{1}{|c|}{ X1 } \\ \hline & & \\ \hline Inventory at FIFO Value & $\$ 611,279$ & $\$ 488,581$ \\ \hline Less: LIFO Reserve & $(64,164)$ & $(72,186)$ \\ \hline & & \\ \hline Inventories reported at LIFO Value & $\$ 547,115$ & $\$ 616,395$ \\ \hline \end{tabular}a. Calculate for Year X2:

i) the gross margin percentage

ii) the current ratio

iii) inventory turnover

b. Estimate the following numbers if Schwin used FIFO for all inventories:

i) the gross margin

ii) the current ratio

iii) inventory turnover

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