o. The inventory turnover ratio: A. Is used to analyze profitability B. Is used to measure solvency c. Measures how quickly a company turns over its merchandise inventory D. Validates the acid-test ratio E. Calculation depends on the company's inventory valuation method 17. In applying the lower of cost or market method to inventory valuation, market is defined as: A. Historical cost B. Current replacement cost C. Current sales price D. FIFO E. LIFO 18. Toys "R" Us had cost of goods sold of $9,421 million, ending inventory of $2,089 milbion inventory of $1,965 million. Its inventory turnover equals: A. 0.21 B. 4.51 C. 4.79 D. 76.1 days E. 80.9 days 19. The inventory valuation method that identifies the invoice cost of each item in ending inventory to determine the cost assigned to that inventory is the: A. Weighted-average inventory method B. First-in, first-out method C. Last-in, first-out method D. Specific identification method E. Retail inventory methood