Solve the Problem

Multiple Choice

Solve the problem.
-A furniture store has an average inventory of $5,398 at retail, and an average inventory of $3,757 at cost. The cost of goods sold for the same period is $26,073.58 and sales of furniture were $37,246.20. Find (a) Stock turnover at cost, and (b) stock turnover at retail. Round to the nearest hundredth.

A) (a) 1.44, (b) 1.43
B) (a) 6.90, (b) 6.94
C) (a) 6.94, (b) 6.90
D) (a) 4.83, (b) 9.91