Last Year, Able Company Had Sales of $10 Million, Cost

Multiple Choice

Last year, Able Company had Sales of $10 million, Cost of Goods Sold of $6 million, Gross Profit of $4 million and Net Profit of $1 million.Average inventory at cost was $2 million.Able's inventory turn rate was:

A) 5 times
B) 3 times
C) 2 times
D) .5 times