Based on the Following Data for the Current Year, What

Multiple Choice

Based on the following data for the current year, what is the inventory turnover? $\begin{array}{ll}\$ 500,000 & \text { Net sales on account during year } \\330,000 & \text { Cost of merchandise sold during ye } \mathrm{yr} \\45,000 & \text { Accounts receivable, begiming of ye ar } \\35,000 & \text { Accounts receivable, end of year } \\90,000 & \text { Inventory, begiming of year } \\110,000 & \text { Inventory, end of year }\end{array}$

A) 3.3
B) 8.3
C) 3.7
D) 3.0