Given the Following Information, Calculate the Inventory Turnover for ABC

question 15

Multiple Choice

Given the following information, calculate the inventory turnover for ABC Co. for 2006 (pick closest number) . $$\begin{array} { l c c } \text { (in thousands of dollars) } & 2006 & 2005 \\\text { Sales } & \$ 19,535 & \$ 15,470 \\\text { Cost of goods sold } & \$ 15,101 & \$ 11,184 \\\text { Inventory } & \$ 2,809 & \$ 2,260\end{array}$$

• A)8.96
• B)7.22
• C)6.93
• D)5.96