Next Page Question 1 (1 point) Selected information for a company for the year 20x6 follows: Net sales $ 55,000 Cost of goods sold 32,000 Inventory, January 1 11,000 Inventory, December 31 7,200 What was the inventory turnover ratio?" a) 3.52 times b) 7.64 times c) 4.44 times Od) 6.04 times Page 1 of 5