Ribaudo Corporation has provided the following financial data from its balance sheet and income statement: The company's inventory turnover for Year 2 is closest to:

A) 3.89
B) 1.04
C) 3.97
D) 4.05

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a specific period, indicating the efficiency of inventory management.

Financial Data

Numerical information reflecting the financial status of an entity, including income, expenses, assets, liabilities, and equity details.

Income Statement

A financial report that summarizes a company's revenues, expenses, and profits over a specific period, usually a fiscal quarter or year.