Current Attempt in Progress The following information pertains to two competitors, Superior Inc. and Michigan Corp. Company Superior Inc. Michigan Corp. Beginning Inventory $174,000 $413,000 Ending Inventory $145,000 $452,000 Cost of Goods Sold $1,240,470 $2,269,160 Superior Inc. reported sales revenues of $1,611,000, and Michigan Corp.reported sales revenue of $3,337,000. Calculate the inventory turnover ratio for Superior and Michigan. (Round answers to 1 decimal place, e.g. 10.5.) Superior Inc. Michigan Corp. times times Inventory turnover ratio e Textbook and Media Question Part Score --/40 Calculate the gross margin and gross margin ratio for Superior and Michigan. (Round gross margin ratio to 1 decimal place, eg. 10.5%) Superior Inc. Michigan Corp. $ $ Gross margin Gross margin ratio % % e Textbook and Media Question Part Score --/50 On the basis of inventory turnover, which company is moving its inventory faster? moves its inventory faster. e Textbook and Media