Missoula Incorporated reported the following selected financial statement data: Cash December 31, 2023 $31,000 Accounts receivable (net) 49,000 Inventory Plant assets (net) Total assets Liabilities December 31, 2024 $ 33,500 55,000 69,000 73,000 211,000 220,000 408,000 397,000 146,000 146,000 Shareholders' equity 262,000 251,000 Net sales 341,000 364,000 Cost of goods sold 301,000 355,000 Net income 21,000 27,000 Required: Compute the inventory turnover ratio for 2024.