Palomino Company had an $18,000 beginning inventory and a $21,000 ending inventory. Net sales were $200,000; Purchases, $96,000; purchase returns and allowances, $6,000; and freight-in, $8,000. Cost of goods sold for the period is $94,000. What is Palamino's rate of inventory turnover? A. 4.5 times 4.9 times 9.5 times 4.8 times