What is the inventory turnover of Ryngaert in 2014? C4

A. 3.44

B. 4.91

C. 6.32

D. 6.67

E. 7.71 Sales/inventory= 360/54=6.67

Ryngaert & Sons, Inc. Income Statements for Year Ending December 31 (Millions of Dollars) 2014 Sales $360 Operating costs excluding depreciation 306 EBITDA $ 54 Depreciation 9 EBIT $ 45 Interest 7 EBT $ 38 Taxes (40%) 15 NI available to common stockholders S23 Common dividends $ 16 Ryngaert & Sons, Inc. Balance Sheets as of December 31 (Millions of Dollars) 2013 $300 255 $ 45 7 $ 38 6 $ 32 13 $ 19 $ 10 2014 $ 4 2013 $ 3 Assets Cash Accounts receivable Inventories Total CA Net plant & equipment Total assets 54 54 $112 90 $202 45 60 $108 75 $183 Liabilities and Equity Accounts payable Accrued liabilities Notes payable Total CL Long-term bonds Total liabilities Common stock (50,000,000 shares) Retained earnings Common equity Total liabilities and equity $ 32 22 20 $ 74 45 $119 13 68 $ 83 $202 $ 28 18 16 $ 62 45 $107 15 61 $ 76 $183