The following data are provided:

31-Dec 2018 Cash $1,500,000 Accounts receivable (net) 1450000 Inventories 2450000 Plant assets (net) 6500000 Accounts payable 1000000 Income taxes payable 195000 Bonds payable 1350000 10% Preferred stock, $50 par 1850000 Common stock, $10 par 2400000 Paid-in capital in excess of par 1550000 Retained earnings 3950000 Net credit sales 12900000 Cost of goods sold 8550000 Operating expenses 2750000 Net income 1500000

2017 Cash $995,000 Accounts receivable (net) 1200000 Inventories 2300000 Plant assets (net) 6400000 Accounts payable 795000 Income taxes payable 105000 Bonds payable 1350000 10% Preferred stock, $50 par 1850000 Common stock, $10 par 1750000 Paid-in capital in excess of par 1400000 Retained earnings 3600000

Additional information: Depreciation included in cost of goods sold and operating expenses is $1205000. On May 1, 2018, 65000 shares of common stock were issued. The preferred stock is cumulative. The preferred dividends were not declared during 2018.

The inventory turnover for 2018 is?

12900 2450.

8550 2450.

12900 2375.

8550 2375.