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 $) 2021 Assets Cash and securities $ 4,800 Accounts receivable 15,000 Inventories 16,200 Total current assets $ 36,000 Net plant and equipment 24,000 Total assets $ 60,000 Liabilities and Equity Accounts payable $ 16,244 Accruals 9,956 Notes payable 8,000 Total current liabilities $ 34,200 Long-term bonds 9,000 Total liabilities $ 43,200 Common stock 4,368 Retained earnings 12,432 Total common equity $ 16,800 Total liabilities and equity $ 60,000 Income Statement (Millions of $) 2021 Net sales $ 72,000 Operating costs except depreciation 66,960 Depreciation 1,920 Earnings before interest and taxes (EBIT) $ 3,120 Less interest 1,020 Earnings before taxes (EBT) $ 2,100 Taxes (25%) 525 Net income $ 1,575 Other data: Shares outstanding (millions) 500.00 Common dividends (millions of $) $551.25 Int. rate on notes payable & L-T bonds 6% Federal plus state income tax rate 25% Year-end stock price $37.80

What is the firm's inventory turnover ratio? Assume that the firm's cost of goods sold is 65% of sales. Do not round your intermediate calculations.

a. 2.69

b. 4.44

c. 1.95

d. 2.89

e. 2.11