Thomas Company Provided the Following Particulars for Year 2017 Calculate Thomas's Rate of Inventory Turnover for the Year

Multiple Choice

Thomas Company provided the following particulars for year 2017: $$\begin{array} { | l | l | } \hline \text { Cost of sales } & \$ 1,100,000 \\\hline \text { Beginning inventory } & 340,000 \\\hline \text { Ending inventory } & 350,000 \\\hline\end{array}$$ Calculate Thomas's rate of inventory turnover for the year.(Round your answer to two decimal places. )

A) 3.14 times per year
B) 3.19 times per year
C) 1.59 times per year
D) 3.24 times per year