Thompson TV and Appliance reported the following in its 2021 financial statements:

		2021
Sales	$	431,000
Cost of goods sold:
Inventory, January 1		73,000
Net purchases		337,000
Goods available for sale		410,000
Inventory, December 31		104,000
Cost of goods sold		306,000
Gross profit	$	125,000

Thompson's 2021 inventory turnover ratio is: (Round your answer to two decimal places.)

Multiple Choice

• 2.94.

• 4.87.

• 3.46.

• 4.14.