The following information was extracted from the accounting records The following information was extracted from the accounting records of Alaska Medical Supplies. Net credit sales20X5: $832,00020X4: $760,000Cost of goods sold20X5: $440,00020X4: $350,000Cash, Dec. 3120X5: $125,00020X4: $110,000Accounts receivable, Dec. 3120X5: $180,00020X4: $140,000Inventory, Dec. 3120X5: $70,00020X4: $50,000Accounts payable, Dec. 3120X5: $115,00020X4: $108,000 Compute the inventory-turnover ratio for 20X5. Alaska Medical Supplies rounds all calculations to two decimal places.Group of answer choices1.26 3.50 3.52 7.33 Accounting Business Managerial AccountingACC 281 ACC 281
