Using the balance sheet and income statement below, calculate inventory turnover.

	Balance Sheet
Assets
Current Assets
		Cash	$52,200
		Marketable Securities	$24,400
		Accounts Receivable (net)	$222,000
		Inventory	$238,000
		Total Current Assets	$536,600
		Investments	$65,900
		Plant and Equipment	$615,000
		Less: Accumulated Depreciation	($271,000)
		Net: Plant and Equipment	$344,000
		Total Assets	$946,500
Liabilities and Stockholders Equity
Current Liabilities
		Accounts Payable	$93,400
		Notes Payable	$70,600
		Accrued Taxes	$17,000
		Total Current Liabilities	$181,000
Long Term Liabilities
		Bonds Payable	$153,200
		Total Liabilities	$334,200
Stockholders Equity
		Preferred Stock, $50 par	$100,000
		Common Stock, $1 par	$80,000
		Capital paid in excess of par	$190,000
		Retained Earnings	$242,300
		Total Stockholders Equity	$612,300
		Total liabilities and stockholders equity	$946,500
Income Statement
Sales			$2,064,000
Cost of Goods Sold			$1,313,000
Gross Profit			$751,000
Selling and Admin Expenses			$496,000
Operating Profit			$255,000
Interest Expense			$26,900
Earnings before tax			$228,100
Taxes			$83,300
Earnings after tax			$144,800