Given the following information, how many times does the firm turnover its inventory during the year?

Beginning inventory = $50,000

Ending inventory = $45,000

Beginning Accounts Receivable = $60,000

Ending Accounts Receivable = $66,000

Beginning Accounts Payable = $70,000

Ending Accounts Payable = $84,000

Sales = $1,000,000

% credit sales = 70%

Cost of goods sold = $450,000