Question: Based on the following data for the current year, what is the inventory turnover? Sales on account during year $700,000 Cost of merchandise sold during

Based on the following data for the current year, what is the inventory turnover?

Sales on account during year

$700,000
Cost of merchandise sold during year

270,000
Accounts receivable, beginning of year

45,000
Accounts receivable, end of year

35,000
Inventory, beginning of year

90,000
Inventory, end of year

110,000

A. 2.7

B. 9.7

C. 2.5

D. 3.0

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