The following information pertains to Unique Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.

Assets

Cash and short-term investments $ 40,000

Accounts receivable (net) 25,000

Inventory 20,000

Property, plant and equipment 210,000

Total Assets $295,000

Liabilities and Stockholders Equity

Current liabilities $ 60,000

Long-term liabilities 85,000

Stockholders equitycommon 150,000

Total Liabilities and Stockholders Equity $295,000

Income Statement

Sales revenue $ 75,000

Cost of goods sold 40,000

Gross profit 35,000

Operating expenses 5,500

Net income $ 29,500

Number of shares of common stock 5,000

Market price of common stock $47.20

Dividends per share on common stock 0.90

Cash provided by operations $30,000

What is the inventory turnover for this company?

Group of answer choices

2.25 times

2 times

.44 times

1 time