E6-25 (similar to) Question Help New Home reported the following income statement for the year ended December 31, 2019: (Click the icon to view the income statement.) Requirements 1. Compute New Home's inventory turnover rate for the year. (Round to two decimal places.) 2. Compute New Home's days' sales in inventory for the year. (Round to two decimal places.) - X Data Table Requirement 1. Compute New Home's inventory turnover 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, X.XX.) Inventory turnover times New Home Income Statement Year Ended December 31, 2019 Sales Revenue Cost of Goods Sold: $ 120,000 $ 9,200 58,000 Beginning Merchandise Inventory Net Cost of Purchases Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold 67,200 13,800 53,400 Gross Profit 66,600 37.100 Operating Expenses $ 29,500 Net Income Print Done Choose from any list or enter any number in the input fields and then click Check Answer. ? 1 panta Clear All Check Answer remaining