Im stuck on this question: A company had a beginning inventory value of $500, 000. It made purchases of $1,500,000 and had cost of sales of $1,200,000. What was it's inventory turnover? From what I know Inventory Turnover Ration = COGS/Average Inventory, which in this case would be 1,200, 000 / ( 500, 000 + 2000,000/2)) but the only options for answers are: (A) 1.5 (B) 1.85 (C) 2.31 (D) 2.4 (E) 3.0