How to check if a 'Storage ' entry exists?

Running some test and figured out that there are at least two possibilities to check if a file/entry exists

s = require('Storage');
file = { name : 'ABC', exist : 0};

// variant I
if (s.list().find(e => (e == file.name))) {
      file.exist = 1;
      console.log(file.name,"exists");
} else {
      file.exist = 1;
      console.log(file.name,"is missing ");
}

// variant II
if (s.read(file.name)) {
      file.exist = 1;
      console.log(file.name,"exists");
} else {
      file.exist = 1;
      console.log(file.name,"is missing ");
}

Are there any pros and cons for those variants?