59 Thompson TV and Appliance reported the following in its 2016 financial statements: Sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold Gross profit Thompson's 2016 inventory turnover ratio is: O4.00. O 4.88 5.00. O 3.91. 2016 $420,000 82,000 340,000 422,000 86,000 336.000 $84.000