A
AcadiFi
Financial Reporting & AnalysisHard

Steelmont Corp. (LIFO) reports inventory of $400M with a LIFO reserve of $60M. Ironclad Inc. (FIFO) reports inventory of $500M. Both have COGS of $800M. To make Steelmont comparable to Ironclad, the analyst adjusts Steelmont to FIFO. What is Steelmont's FIFO-adjusted inventory turnover?