Blanchard,Inc Calculate the Company's Inventory Turnover Ratio for the Year

question 5

Multiple Choice

Blanchard,Inc.provided the following for 2017: $$\begin{array} { | l | r | } \hline \text { Cost of Goods Sold (Cost of sales) } & \$ 1,300,000 \\\hline \text { Beginning Merchandise Inventory } & 330,000 \\\hline \text { Ending Merchandise Inventory } & 350,000 \\\hline\end{array}$$ Calculate the company's inventory turnover ratio for the year.(Round your answer to two decimal places. )

• A)3.94 times per year
• B)3.82 times per year
• C)3.71 times per year
• D)1.91 times per year

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