Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2Year 1Current assets: Cash$90 $120 Accounts receivable, net 100 110 Inventory 170 160 Prepaid expenses 40 40 Total current assets$ 400 $ 430 Total current liabilities$ 320 $ 290 Sales on account in Year 2 amounted to $1,210 and the cost of goods sold was $720.The inventory turnover for Year 2 is closest to:
A. 0.94
B. 1.06
C. 4.24
D. 4.36
Answer: D
Business
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