The balance sheet and income statement shown below are for Koski Inc.Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.

Balance Sheet(Millions of $)Assets2010

Cash and securities$1,290

Accounts receivable9,890

Inventories13,760

Total current assets$24,940

Net plant and equipment$18,060

Total assets$43,000

Liabilities and EquityAccounts payable$8,170

Notes payable6,020

Accruals4,730

Total current liabilities$18,920

Long-term bonds$8,815

Total debt$27,735

Common stock$5,805

Retained earnings9,460

Total common equity$15,265

Total liabilities and equity$43,000

Income Statement (Millions of $)2010

Net sales$51,600

Operating costs except depreciation48,246

Depreciation903

Earnings bef interest and taxes (EBIT)$2,451

Less interest927

Earnings before taxes (EBT)$1,524

Taxes533

Net income$990

Other data:Shares outstanding (millions)500.00

Common dividends (millions of $)$346.67

Int rate on notes payable & L-T bonds6.25%

Federal plus state income tax rate35%

Year-end stock price$23.77

What is the firm's inventory turnover ratio?

a.3.98b.3.23c.3.79d.3.19e.3.75