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

Selected year-end data for the Brayer Company are presented below: $\begin{array}{lr}\text { Current liabilities.. }&\$600,000\\\text { Acid-test ratio }&2.5\\\text { Current ratio }&3.0\\\text { Cost of goods sold }&\$500,000\end{array}$
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:

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

Correct Answer:

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