The following company information is available:

Average accounts receivable	$800,000
Average inventories	120,000
Average accounts payable	110,000
Net sales	6,000,000
Cost of goods sold	1,600,000
Purchases	1,140,000

What is the company's inventory turnover ratio? (Round your answer to one decimal place, X.X.)

Average accounts receivable $800,000 Average inventories 120,000 Average accounts payable 110,000 Net sales 6,000,000 Cost of goods sold 1,600,000 Purchases 1,140,000 What is the company's inventory turnover ratio? (Round your answer to one decimal place, X.X.)