Anthony Thomas Candies (ATC) reported the following financial data for 2018 and 2017: 2018 $324,000 8,500 $315,500 2017 $292,000 5,800 $286,200 Sales Sales returns and allowances Net sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 53,000 146,000 199,000 58,000 141,000 $174,500 32,000 132,000 164,000 53,000 111,000 $175,200 ATC's inventory turnover ratio for 2018 is: (Round your answer to two decimal places.)