Kent Inc. provided the following data for 2016 and 2017:

Inventory

December 31, 2016

$250,000

December 31, 2017

180,000

Cost of goods sold

2016

$650,000

2017

645,000

Gross margin

2016

$340,000

2017

430,000

What are the inventory turnover ratio and the gross margin return on inventory investment for 2017?

• A.Inventory turnover ratio = 3.00 times, The gross margin return on inventory investment = 200%
• B.Inventory turnover ratio = 2.00 times, The gross margin return on inventory investment = 300%
• C.Inventory turnover ratio = 3.09 times, The gross margin return on inventory investment = 20%
• D.Inventory turnover ratio = 3.00 times, The gross margin return on inventory investment = 2%