Given the following information for Blue Bell Company for last year:

Given the following information for Blue Bell Company for last year:

Net sales (all on account)$5,200,000Cost of goods sold2,080,000Interest expense240,000Income tax expense280,000Net income420,000Income tax rate40%Total assets:  January 1$1,800,000 December 312,400,000Shareholders' equity (all common):  January 11,500,000 December 311,600,000Current assets, December 31700,000Quick assets, December 31400,000Current liabilities, December 31300,000Net accounts receivable:  January 1200,000 December 31180,000Inventory:  January 1210,000 December 31250,000

Refer to Exhibit 4-1. Blue Bell's inventory turnover for the year was

a)11.1%

b)9.0 times

c)8.3 times

d)12.0%