Blanchard, Inc. provided the following for 2017:

Cost of Goods Sold (Cost of sales) $1,300,000
Beginning Merchandise Inventory 330,000
Ending Merchandise Inventory 350,000

Calculate the company's inventory turnover ratio for the year

(Round your answer to two decimal places.)
A) 3.94 times per year
B) 3.82 times per year
C) 3.71 times per year
D) 1.91 times per year

B .Inventory turnover = Cost of goods sold / Average merchandise inventory
3.82 = 1,300,000 / 340,000