Lisa Inc.'s Balance Sheet Appears Below

Multiple Choice

Lisa Inc.'s balance sheet appears below:
The company's sales for the year were $300,000, its cost of goods sold was $220,000, and its net income was $35,000. All sales were on credit. Dividends paid on preferred shares for the year were $5,000.



-Lisa Inc.'s inventory turnover for Year 2 was closest to which of the following?

A) 3.7 times.
B) 4.0 times.
C) 4.4 times.
D) 5.0 times.