Anderson Farms Company Provided the Following for 2018 Calculate the Company's Inventory Turnover Ratio for the Year

Multiple Choice

Anderson Farms Company provided the following for 2018: $$\begin{array} { | l | r |} \hline \text { Cost of Goods Sold (Cost of sales) } & \$ 1,200,000 \\\hline \text { Beginning Merchandise Inventory } & 300,000 \\\hline \text { Ending Merchandise Inventory } & 640,000 \\\hline\end{array}$$ Calculate the company's inventory turnover ratio for the year.(Round your answer to two decimal places.)

A) 4.00 times per year
B) 2.55 times per year
C) 1.88 times per year
D) 1.28 times per year