monroe manufacturing has a quick ratio of 2.00x $31,000 in cash $17,500 in accounts recivable some inventory total current assets of $70,000 and total current liabilities of $24,500 the company reported annaul sales of $400,000 in the most recent annual report

Over the past year how often did Monroe manufacturing sell and replace its inventory

A) 19.05

B) 20.96

C) 2.86

D) 8.01

The inventory turnover rate across companies in the manufacting company in the manufacturing industry is 16.19x based on this info which of the following is true

1) Monroe manufacturing is holding less inventory per dollar of sales compared to the industry average

2)Monroe manufacturing is holding more inventory per dollar of sales compared to the Industry average