The following balance sheet information is provided for Gaynor Company:AssetsYear 2 Year 1Cash$4,000 $2,000 Accounts receivable 15,000 12,000 Inventory$35,000 $38,000 Assuming Year 2 cost of goods sold is $153,300, what is the company's inventory turnover?
A. 4.2 times
B. 4.4 times
C. 4.0 times
D. None of these answers is correct.
Answer: A
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