Table 28.1:

The following table gives abbreviated balance sheets and income statements for Walmart.

Balance Sheet (figures in $ millions)
	End of Year			Start of Year
Assets
Current assets:
Cash and marketable securities	$	6,896		$	7,007
Accounts receivable		5,754			5,975
Inventories		43,923			43,186
Other current assets		3,651			2,081
Total current assets	$	60,224		$	58,249
Fixed assets:
Net fixed assets	$	114,958		$	114,318
Other long-term assets		30,180			27,098
Total assets	$	205,362		$	199,665
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable	$	46,232		$	41,573
Other current liabilities		32,569			25,635
Total current liabilities	$	78,801		$	67,208
Long-term debt		36,965			42,158
Other long-term liabilities		11,447			12,221
Total liabilities	$	127,213		$	121,587
Total shareholders' equity		78,149			78,078
Total liabilities and shareholders equity	$	205,362		$	199,665
Income Statement (figures in $ millions)
Net sales	$	500,483		$	486,013
Cost of goods sold		373,536			361,396
Selling, general, and administrative expenses		96,121			91,913
Depreciation		10,669			10,220
Earnings before interest and taxes (EBIT)	$	20,157		$	22,484
Interest expense		2,318			2,407
Taxable income	$	17,839		$	20,077
Tax		4,600			7,027
Net income	$	13,239		$	13,050
Dividends		6,264			6,835
Addition to retained earnings	$	6,975		$	6,215

Assume a tax rate of 35%. Calculate the following using balance-sheet figures from the start of the year and Income statement figures from the end of the year:

Refer to Table 28.1. Calculate the inventory turnover.

Group of answer choices

2.51

8.65

10.1

3.06