How many grams of Fe is needed to make 8 g of FeO3.

I was given Fe + H2O ---> H2 + FeO3.
I balanced it: 2Fe +3H2O -----> 3H2 +Fe2O3.
divided 8 by 160 (sum of parts of Fe2O3 got .05
multiplied .05 times 2 because ratio was 2:1 and got 0.1
multiplied 0.1 times 56 (value of Fe) and the answer was 5.69. Is this correct procedure?

The procedure looks ok to me although I would have used more significant figures than 160 and 56; especially if I intended to report the answer to three significant figures. (You only have 1 place in the 8 g.) I also note that the question uses FeO3 but the equation uses Fe2O3.