During the Year Just Ended, the Retailer James Corporation Purchased

Multiple Choice

During the year just ended, the retailer James Corporation purchased $430,000 of inventory. The inventory balance at the beginning of the year was $181,000. If the cost of goods sold for the year was $455,000, then the inventory turnover for the year was:

A) 2.70
B) 2.51
C) 2.92
D) 2.55