Question: Selected year-end data for the Brayer Company are presented below: Current liabilities $600,000 Acid-test ratio 2.5 to 1 Current ratio 3.0 to 1 Cost of

Selected year-end data for the Brayer Company are presented below: Current liabilities $600,000 Acid-test ratio 2.5 to 1 Current ratio 3.0 to 1 Cost of goods sold $500,000 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: 1.20 times. 2.40 times. 1.67 times. 2.33 times

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