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Consider the following financial data from the past year for a company (all figures are in millions of dollars): gross income: 28.5 total sales: 25.3

Consider the following financial data from the past year for a company (all figures are in millions of dollars):

gross income: 28.5

total sales: 25.3

total credit sales: 19.6

net income: 3.7

cost of goods sold: 11.8

total assest: 11.5

average inventory: 4.2

average receivables: 5.3

Compute the inventory turnover ratio.

(in your answer, please provide three decimal places to the right of the decimal point)

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