E6-25 (similar to) New Day reported the following income statement for the year ended December 31, 2019 Click the icon to view the income statement) Requirements 1. Compute New Day's inventory turnover rate for the year. (Round to two decimal places) 2. Compute New Day's days' sales in inventory for the year. (Round to two decimal places) Requirement 1. Compute New Day's inventory tumover rate for the year (Round to two decimal places.) Select the labels and enter the amounts to compute the inventory turnover rate. (Round your answer to two decimal places, XXX) Inventory turnover times Choose from any list or enter any number in the input fields and then click Check Answer 1 par remaining Clear All i Data Table New Day Income Statement O to Year Ended December 31, 2019 $ 154,000 ear Net Sales Revenue Cost of Goods Sold: ove Beginning Merchandise Inventory 8,400 70,000 Net Cost of Purchases Cost of Goods Available for Sale 78.400 14,200 Less: Ending Merchandise Inventory 64.200 Cost of Goods Sold Gross Profit 89,800 64,400 Operating Expenses $ 25,400 Net Income d then