Below are the financial data for a company over the last year. Calculate the Inventory Turnover ratio. total sales $32,164,000 total credit sales $18,895,000
net income $6,345,000
cost of sales $9,932,000
total assets $7,233,000
average invertory $1,577,000
average receivables $3,744,000
a) 2.3
b) 6.3
c) 5.0
d) 4.4
e) 8.8