The following information is for 2024 Cost of Goods Sold (Cost of sales) Beginning Merchandise Inventory Ending Merchandise Inventory Smith Clothing $1,700,000 340,000 380.000 The average inventory turnover for the clothing industry is 8. Which of the following statements is correct? A. Smith's inventory turnover is higher than the industry average, meaning they are not selling inventory as quickly as the industry average OB. Smith's inventory turnover is higher than the industry average, meaning they are selling inventory more quickly than the industry average C. Smith's inventory turnover is lower than the industry average, meaning they are not selling inventory as quickly as the industry average OD. Smith's inventory turnover is lower than the industry average, meaning they are selling inventory more quickly than the industry average