Inventory turnover shows how many times a company has sold and replaced inventory during a given period. It can be calculated by sales divided by average inventory. Henderson Corporation is a supplier of alloy ball bearings to auto manufacturers in Detroit. Because of the specialized manufacturing process employed, considerable work-in-process and raw material inventories are created. The average inventory levels are $1,152,000 and $2,725,000, respectively. In addition, finished goods inventory is $3,225,000, and sales (at cost) for the current year are expected to be about $24 million. The inventory turnover that Henderson Corporation is currently expecting is: less than 2.6. N O greater than 20 but less than 2.5. greater than 2.5 but less than 3.0. greater than 3.0