Thomas Company Provided the Following Particulars for Year 2015 -Refer to the Table Above

question 75

Multiple Choice

Thomas Company provided the following particulars for year 2015: $$\begin{array} { | l | r | } \hline \text { Cost of Goods Sold (Cost of sales) } & \$ 1,800,000 \\\hline \text { Beginning Merchandise Inventory } & 325,000 \\\hline \text { Ending Merchandise Inventory } & 650,000 \\\hline\end{array}$$
-Refer to the table above.Calculate Thomas's inventory turnover ratio for the year. (Round your answer to two decimal places.)

• A) 5.53 times per year
• B) 3.69 times per year
• C) 2.76 times per year
• D) 1.85 times per year

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