The following is a portion of the condensed income statement for Rowan, Inc., a manufacturer of plastic containers: Net sales Less: Cost of goods sold: $2,960,000 Inventory, January 1 Net purchases Inventory, December 31 $ 680,000 2,400,000 (715,000) 2,365,000 595,000 Gross profit Required: 1. Determine Rowan's inventory turnover.(Round your answer to 2 decimal places.) tory turnover ratio times