1

The following information pertains to two competitors, Superior Inc. and Michigan Corp. Company Beginning Inventory Ending Inventory Cost of Goods Sold Superior Inc. $ 179,000 $ 148,000 $ 1,231,230 Michigan Corp. $ 408.000 $ 447,000 $ 2.291,520 Superior Inc. reported sales revenues of $ 1,599.000, and Michigan Corp. reported sales revenue of $ 3,360,000. Calculate the inventory turnover ratio for Superior and Michigan. (Round answers to 1 decimal place, eg. 10.5.) Superior Inc. Michigan Corp. times times Inventory turnover ratio e Textbook and Media 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 On the basis of inventory turnover, which company is moving its inventory faster? moves its inventory faster. e Textbook and Media