Ottoman Manufacturing Company reported net sales (all credit) of $120,000 and $140,000 for 20x3 and 20x4, respectively, and net income of $24,000 and $32,000 for 20x3 and 20x4, respectively. It also reported gross profit margin of 58% and 56% for 20x3 and 20x4, respectively. Ottoman's 20x3 and 20x4 balance sheets appear here: 20x3 20x4 Current Assets Cash $ 16,000 $ 15,000 Accounts Receivable, net 20,000 19,000 Inventory 30,000 28,000 Total Current Assets 66.000 62.000 Plant & Equipment, net 60,000 40,000 Total Assets 126.000 102.000 Current Liabilities Noncurrent Liabilities 20,000 30.000 60,000 40,000 Total Liabilities Stockholders' Equity Common Stock Additional Paid-In Capital Retained Earnings Total Stockholders' Equity $ 80,000 $ 70,000 2,000 2,000 4,000 4,000 40.000 26.000 46,000 32,000 Total Liabilities and Stockholders' Equity $126.000 $ 102,000 Calculate the inventory turnover for 20x4, rounding to two decimal places