Use the Following Information for Shafer Company to Compute Inventory

Multiple Choice

Use the following information for Shafer Company to compute inventory turnover for year 2. $$\begin{array} { | l | r | r | } \hline & \text { Year 2 } & \text { Year 1 } \\\hline \text { Net sales } & \$ 647,500 & \$ 582,000 \\\hline \text { Cost of goods sold } & 389,500 & 360,840 \\\hline \text { Ending inventory } & 76,700 & 79,380 \\\hline\end{array}$$

A) 8.44
B) 9.98
C) 5.08
D) 4.99
E) 8.30