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Required information

In October, Nicole eliminated all existing inventory of cosmetic items. The trouble of ordering and tracking each product line had exceeded the profits earned. In December, a supplier asked her to sell a prepackaged spa kit. Feeling she could manage a single product line, Nicole agreed. Nicole's Getaway Spa $($NGS$)$ would make monthly purchases from the supplier at a cost that included production costs and a transportation charge. NGS would keep track of its new inventory using a perpetual inventory system.

On December $31$ of last year, NGS had $20$ units at a total cost of $$5\mathrm{.}40$ per unit. Nicole purchased $30$ more units at $$7\mathrm{.}40$ in February. In March, Nicole purchased $20$ units at $$9\mathrm{.}40$ per unit. In May, $60$ units were purchased at $$9\mathrm{.}20$ per unit. In June, NGS sold $60$ units at a selling price of $$11\mathrm{.}40$ per unit and $50$ units at $$11\mathrm{.}60$ per unit.

$3.$ Calculate the inventory turnover ratio, using the inventory purchased on December $31$ as the beginning inventory. $($Round your answers to $2$ decimal places.$)$

$\backslash$table$[[$Inventory Turnover Ratio,$],[$Numerator$,$Cost of Goods Sold,$],[$Denominator$,$Average Inventory,$],[,,]]$