ABC Company employs a periodic inventory system and sells its inventory to customers for $46 per unit. ABC Company had the following inventory information available for May: May 1 Beginning inventory 2,000 units e $20 cost per unit May 3 Purchased 2,400 units $24 cost per unit May 8 Sold 1,800 units May 13 Purchased 2,400 units $30 cost per unit May 18 Sold 1,700 units May 20 Purchase 2,200 units e $25 cost Aer unit: May 24 Sold 2,500 units May 30 Purchased 1,000 units $11 cost per unit During May, ABC Company reported operating expenses of $113,000 and had an income tax rate of 35%. Calculate ABC Company's inventory turnover ratio for May using the FIFO method