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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: 29.8 total sales: 25.9

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

gross income: 29.8

total sales: 25.9

total credit sales: 18.8

net income: 3.8

cost of goods sold: 11.6

total assest: 10.8

average inventory: 4.7

average receivables: 6.9

Compute the inventory turnover ratio.

(Provide 3 decimal values)

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