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Excerpts from TPX Company's December 31, 2018 and 2017, financial statements are presented below: ...

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Accounting

Excerpts from TPX Company's December 31, 2018 and 2017, financial statements are presented below:

2018 2017
Accounts receivable $82,000 $82,000
Inventory 87,000 79,000
Net sales 470,000 379,000
Cost of goods sold 258,000 226,000
Total assets 820,000 775,000
Total stockholders' equity 475,000 455,000
Net income 77,000 58,000

TPX Company's 2018 inventory turnover is:

5.7 times

3.0 times

5.4 times

3.1 times

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