Anderson Farms Company Provided the Following for 2018 Calculate the Company's Inventory Turnover Ratio for the Year

question 199

Multiple Choice

Anderson Farms Company provided the following for 2018: $$\begin{array} { | l | r |} \hline \text { Cost of Goods Sold (Cost of sales) } & \$ 1,200,000 \\\hline \text { Beginning Merchandise Inventory } & 300,000 \\\hline \text { Ending Merchandise Inventory } & 640,000 \\\hline\end{array}$$ Calculate the company's inventory turnover ratio for the year.(Round your answer to two decimal places.)

• A) 4.00 times per year
• B) 2.55 times per year
• C) 1.88 times per year
• D) 1.28 times per year

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