Using Sparky's financial information what is the company's inventory turnover ratio for 2012?
a. 0.69
b. 1.00
c. 3.35
d. 4.03
C
Sparky's Selected Financial Statement data
For Fiscal year end 2012 2011
(amounts in thousands of dollars)
Net sales $125,410 $106,380
Cost of Goods Sold -104,090 -89,359
Gross profit $21,320 $17,021
Inventory $31,353 $30,850
Inventory Turnover 3.35
$104,090/.5($31,353+$30,850)
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