K New Hope reported the following income statement for the year ended December 31, 2025: (Click the icon to view the income statement.) Requirements 1. Compute New Hope's inventory turnover rate for the year. (Round to two decimal places.) 2. Compute New Hope's days' sales in inventory for the year. (Round to two decimal places.) Requirement 1. Compute New Hope'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 follow ew the Data table pe's in pe's da New Hope Income Statement Year Ended December 31, 2025 Net Sales Revenue $ 123,000 ute Ne Cost of Goods Sold: nter th Beginning Merchandise Inventory $ 11,400 66,000 Plus: Net Cost of Inventory Purchased Cost of Goods Available for Sale 77,400 Less: Ending Merchandise Inventory 16,200 61,200 Cost of Goods Sold Gross Profit 61,800 27,500 Operating Expenses $ 34,300 Net Income Print Done s, X