Refer to the following selected financial information from McCormik, LLC. Compute the company's inventory turnover for Year 2. Year 2 Year 1 Cash$39,300? $34,050? Short-term investments 108,000? 69,000? Accounts receivable, net 94,500? 88,500? Merchandise inventory 130,000? 134,000? Prepaid expenses 13,900? 11,500? Plant assets 397,000? 347,000? Accounts payable 104,400? 116,800? Net sales 720,000? 685,000? Cost of goods sold 399,000? 384,000?
A. 2.98.
B. 3.61.
C. 3.02.
D. 5.54.
E. 3.07.
Answer: C
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