STEP: 2 of 3 General Forge and Foundry Company has a quick ratio of 2.00; $29,250 in cash; $16,250 in accounts receivable; some inventory; total current assets of $65,000; and total current liabilities of $22,750. In its most recent annual report, General Forge reported annual sales of $300,000 and a cost of goods sold equal to 65% of annual sales. How many times is General Forge and Foundry Company selling and replacing its inventory? 10.00x 11.00x 15.38x 0.35x The inventory turnover ratio across companies in General Forge's industry is 11.25. Based on this information, which of the following statements is true for General Forge and Foundry Company? General Forge and Foundry Company is holding less inventory per dollar of COGS compared to the industry average. General Forge and Foundry Company is holding more inventory per dollar of COGS compared to the industry average. Grade Step 2 TOTAL SCORE: 1/6