Smay Corporation Has Provided the Following Data The Accounts Receivable Turnover for This Year Is Closest To

Multiple Choice

Smay Corporation has provided the following data: $$\begin{array} { | l | r | r | } & \text { This Year } & \text { Last Y ear } \\\hline \text { Accounts receivable } & \$ 107,000 & \$ 108,000 \\\hline \text { Inventory } & \$ 179,000 & \$ 187,000 \\\hline \text { Sales on account } & \$ 654,000 & \\\hline \text { Cost of goods sold } & \$ 461,000 & \\\hline\end{array}$$ The accounts receivable turnover for this year is closest to:

A) 1.01
B) 0.99
C) 6.08
D) 6.11