Crawford Construction has a quick ratio of 2.00x, $32,175 in cash, $17,875 in accounts receivable, some inventory, total current assets of $71,500, and total current liabilities of $25,025. The company reported annual sales of $300,000 in the most recent annual report. Additionally, the companys cost of goods sold is 75% of sales.

Over the past year, how often did Crawford Construction sell and replace its inventory?

a. 11.54x

b. 8.01x

c. 10.49x

d. 2.86x

The inventory turnover ratio across companies in the construction industry is 8.9165x. Based on this information, which of the following statements is true for Crawford Construction?

a. Crawford Construction is holding more inventory per dollar of sales compared with the industry average.

b. Crawford Construction is holding less inventory per dollar of sales compared with the industry average.