Selected Year-End Data for the Brayer Company Are Presented Below

Selected year-end data for the Brayer Company are presented below:
$\begin{array}{|l|r|}\hline \text { Current Liabilities } & \$ 600,000 \\\hline \text { Acid-Test Ratio } & 2.5 \text { to } 1 \\\hline \text { Current Ratio } & 3.0 \text { to } 1 \\\hline \text { Cost of Goods Sold } & \$ 500,000 \\\hline\end{array}$
The company has no prepaid expenses,and inventories remained unchanged during the year.Based on these data,the company's inventory turnover ratio for the year was closest to which of the following?

A) 1.20 times.
B) 1.67 times.
C) 2.33 times.
D) 2.40 times.

Correct Answer:

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