Roki Inc. uses the periodic inventory system and has the following data for the month of June:

June	1	On hand, 50 units @ $15.00 each	$ 750.00
	5	Purchased 115 units @ $15.10 each	1,736.50
	14	Purchased 75 units @ $15.20 each	1,140.00
		Total cost of goods available for sale	$3,626.50
	30	On hand, 90 units

If Roki uses the FIFO method, the amount assigned to the June 30 inventory would be

	a.	$1,594.00.
	b.	$1,366.50.
	c.	$1,354.00.
	d.	$1,590.42.

Fawnsworth Industries Below are some financial data for Fawnsworth Industries current year.

Net sales on account during year	$500,000
Cost of merchandise sold during year	300,000
Accounts receivable, beginning of year	45,000
Accounts receivable, end of year	35,000
Inventory, beginning of year	90,000
Inventory, end of year	110,000

Refer to the data for Fawnsworth Industries.

Based on this information, what is Fawnsworths inventory turnover ratio for the current period?

	a.	0.33 time
	b.	1.67 times
	c.	2.73 times
	d.	3.00 times