The following is a portion of the condensed income statement for Rowan, Incorporated, a manufacturer of plastic containers: Net sales Less: Cost of goods sold: Inventory, January 1 Net purchases Inventory, December 31 Gross profit Required: 1. Determine Rowan's inventory turnover. $ 720,000 2,800,000 $ 3,360,000 (735,000) 2,785,000 $ 575,000 Note: Round your answer to 2 decimal places. Inventory turnover ratio times