The Following Information Was Available for the Year Ended December

Multiple Choice

The following information was available for the year ended December 31, 2019: $\begin{array}{lr}\text { Net sales } & \$ 300,000 \\\text { Cost of goods sold } & 210,000 \\ \text { Average accounts receivable for the year } & 15,000 \\ \text { Accounts receivable at year-end } & 18,000 \\\text { Average inventory for the year } & 60,000 \\\text { Inventory at year-end } & 70,000\end{array}$ The inventory turnover for 2019 was:

A) 3.0 times
B) 3.5 times
C) 4.3 times
D) 5.0 times