Refer to the Following Selected Financial Information from Phantom Corp

question 137

Multiple Choice

Refer to the following selected financial information from Phantom Corp. Compute the company's inventory turnover for Year 2. $\begin{array}{lll}& \text { Year 2 } & \text { Year 1 } \\\text { Merchandise inventory } & 271,000 & 253,500 \\\text { Cost of goods sold }& 486,400 & 433,100\end{array}$

• A) 1.79.
• B) 1.71.
• C) 1.85.
• D) 0.93.
• E) 1.75.