Bono Company Reported Sales of $900,000, Cost of Goods Sold

Multiple Choice

Bono Company reported sales of $900,000, cost of goods sold of $600,000, and a gross profit of $300,000 for the year. Bono's beginning inventory was $120,000; the ending inventory at December 31, was $100,000.
Bono's inventory turnover for the year is:

A) 7.20
B) 4.27
C) 5.45
D) 2.08
E) None of the above