QUESTION 28

1. The following information are extracted from the financial statements of Turquoise Inc.:

Average Total Assets = $100,000

Average Inventory = $20,000

Sales Revenue = $400,000

Gross Profit = $200,000

Turquoises total asset turnover and inventory turnover are closest to:

a.

Asset turnover	Inventory turnover
4.00 times	10.00 times

b.

Asset turnover	Inventory turnover
2.00 times	0.05 times

c.

Asset turnover	Inventory turnover
0.50 times	0.1 times