Question: The 5 ratio problems use the data below. What is the Inventory Turnover ratio as of December 3 1 , 2 0 2 0 ?

The 5 ratio problems use the data below. What is the Inventory Turnover ratio as of December 31,2020? Answer to the nearest decimal point (for example, 120.5).
Balance as Of December 31st12/31/202012/31/2019Cash$200$600Accounts Receivable1,000800Inventory2,0001,600Total Current Assets3,2003,000Other Assets600400Total Assets$3,800$3,400Current Liabilities$1,600$2,200Other Liabilities1,200200Total Liabilities2,8002,400Stockholders' Equity1,0001,000Total Liabilities and S/H Equity$3,800$3,40012/31/2020Net Sales$4,500Cost of Goods Sold3,600Gross Profit900Selling, General & Admin. Expenses300Net Income$600

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