7 of 9 (6 complete) Score: 0 of 5 pts E5-27A (similar to) Gibson's Nursery, inc, has the tolowing indormation as of December 31,2016 E(Click the icon to view the data.) 1. Compute the rate of inventory turmover for Gibson's Nursery, Inc., for the year ended December 31,2016. Round the result to two decimal places 2. The rate of inventory turnover for Gibson's Nursery, Inc, was 9.20 in 2015. Has the rate improved or deteriorated? Requirement 1.Compute the rate of inventory turmover for Gibson's Nursery, Inc, for the year ended December 31, 2016. Round the resuit to wo decimal places Begin by selecting reformula and then enter te amores to caladate the mert turnover (Rond the resut to two decir al paes. X.XX.) Data Table Rate of inventory furmover Sales revenue $ 1,610,000 Cost of goods sold Beginning inventory Net purchases Cost of goods available Ending inventory Cost of goods sold 90,000 360.000 450,000 30.000 1,179 400 325,000 854 400 Gross prott Choose from any list or enter any number in the input fieids and then click Chack Answer Net income Clear All Desktop A ( Type here to search