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The following information was available for Hawley Company at December 31, 2007: beginning inventory $160,000; ending inventory $240,000; cost of goods sold $700,000; and sales $1,000,000 17 Hawley's inventory turnover ratio in 2007 was a. 5.0 times b. 4.3 times. c. 3.5 times. d. 2.9 times