QUESTION 17 The following data are pulled from a recent ACME Manufacturing annual report. Assets Raw material inventory $120,000 Work-in-process inventory $50,000 Finished goods inventory $300,000 Property, plant & equipment $500,000 Other assets $200,000 Total assets $1,170,000 Condensed Income Statement: Revenue $2,000,000 Cost of goods sold S600.000 Other expenses $1,000,000 Net income $400,000 What is ACME's Inventory Turnover per year? (Link to Formulas. Z Table & Excel Worksheet) 1.3 turns per year 2.0 turns per year 3.4 turns per year 5.0 turns per year 2.6 turns per year Click Save and Submit to save and submit. Click Save All Amers to save all answers