Middlesex, Incorporated's sales for the year ended May 31, 2018, were $1,321,000, and cost of goods sold amounted to $720,000. Beginning inventory was $61,000, and ending inventory was $75,000. Compute Middlesex, Incorporated's rate of inventory turnover for the year ended May 31, 2018. Round your answer to the nearest tenth. Select the formula and then complete the calculation. (Round the inventory turnover to one decimal place.) = Inventory turnover times per year