IN ORDER TO RECEIVE POSITIVE RATING, PLEASE SHOW STEP- BY-STEP CALCULATIONS OR, AN EXCEL SPREADSHEET IS ACCEPTABLE. NO SCREEN SHOTS OR, HANDWRITTEN ANSWERS PLEASE 11. Hootman Shipping has sales of $950,000 and cost of goods sold of $574,200. At the beginning of the year, the inventory was $65,200. At the end of the year, the inventory balance was $74,000. What is the inventory turnover rate? (Assume a 365-day year)