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

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

		2021
Sales	$	423,000
Cost of goods sold:
Inventory, January 1		64,000
Net purchases		322,000
Goods available for sale		386,000
Inventory, December 31		88,000
Cost of goods sold		298,000
Gross profit	$	125,000

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

3.92.

5.57.

4.81.

3.39.

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