liquidity和efficiency如何理解呢

同学你好，英文解析里有写了哦

liquidity指标中有一个就是current ratio，是公司流动资产相对流动负债的比例，比例越高，说明公司可变现的资产越能充分覆盖短期债务，那公司的流动性就越高——“ Current ratio = current assets/current liabilities, higher inventory means higher assets, so the current ratio of company M is higher, indicating higher liquidity.”因为价格在上涨， 那FIFO留下的inventory的价值就会比LIFO的更高，所以M公司的current ratio就会更高，流动性更好

efficiency是指运营效率，对应的是inventory turnover指标——“When the price tends to rise, inventory balance of company M tends to be higher for it adopting the FIFO method and the cost of sales tends to be lower, which will result in higher gross margin, indicating higher profitability. As well as lower inventory turnover (Inventory turnover= COGS/average inventory), indicating lower efficiency. ”FIFO 下，COGS更低而inventory更高，最后计算出来的inventory turnover就会更低。turnover 越低意味着运营效率越低，所以B说错了

以下是对应的讲义截图