Below Is Financial Data for Fawnsworth Industries' Current Year -Refer to the Data for Fawnsworth Industries

Multiple Choice

Below is financial data for Fawnsworth Industries' current year. $\begin{array}{lr}\text { Net sales on account during year } & \$ 500,000 \\\text { Cost of merchandise sold during year } & 300,000 \\\text { Accounts receivable, beginning of year } & 45,000 \\\text { Accounts receivable, end of year } & 35,000 \\\text { Inventory, beginning of year } & 90,000 \\\text { Inventory, end of year } & 110,000\end{array}$
-Refer to the data for Fawnsworth Industries. Based on this information, what is Fawnsworth's inventory turnover ratio for the current period?

A) 1.67 times
B) 2.73 times
C) 0.33 times
D) 3.00 times