1

Refer to the following selected financial information from MTI Corp. Compute the company's inventory turnover for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 $ 39,400 109,000 95,000 130,500 14,000 397,500 103,900 720,500 399,500 Year 1 $ 34,150 69,500 89,000 134,500 11,600 347,500 117,300 685,500 384,500 Multiple Choice O 2.97. O 3.02. O 3.06. 3.61 O 5.52