Given the Following Information, Calculate the Inventory Turnover for ABC

Multiple Choice

Given the following information, calculate the inventory turnover for ABC Co. for 2006 (pick closest number) . $$\begin{array} { | l | r | r | } \hline \text { (in thousands of dollars) } & { 2006 } & { 2005 } \\\hline \text { Sales } & \$ 19,535 & \$ 15,470 \\\hline \text { Cost of Goods Sold } & \$ 15,101 & \$ 11,184 \\\hline \text { Inventory } & \$ 2,809 & \$ 2,260 \\\hline\end{array}$$

A) 8.96
B) 7.22
C) 6.93
D) 6.18