Sales for the year were $74,000 and cost of goods sold were $59,200.

The balance sheet at the end of the year is given below:

Assets			Liabilities and Equity
Cash	10,000		Accounts payable	19,000
Accounts receivable	5,000		Current liabilities	19,000
Inventory	45,000		Long-term debt	95,000
Current assets	60,000		Total liabilities	114,000
Machines	34,000		Paid-in capital	20,000
Real estate	80,000		Retained earnings	40,000
Net fixed assets	114,000		Equity	60,000
Total assets	174,000		Total liab. & equity	174,000

What is the firm's inventory turnover (using cost of goods sold)?