Find the quotient of 5 ÷ 1/8.

To divide by a fraction, we need to remember to flip the second fraction (the divisor) and change the division sign to a multiplication sign.

So, 5 ÷ 1/8 can be rewritten as 5 x 8/1.

Multiplying 5 by 8 gives us 40.

Therefore, the quotient of 5 ÷ 1/8 is 40.