Industrialization Automation Company (IAC) has a quick ratio of 2.00; $29,250 in cash; $16,250 in accounts receivable; some inventory; total current assets of $65,000; and total current liabilities of $22,750. In its most recent annual report, IAC reported annual sales of $100,000 and a cost of goods sold equal to 65% of annual sales. How many times is Industrialization Automation Company (IAC) selling and replacing its inventory?

5.13x

3.33x

3.663x

0.35x