Next Hope reported the following income statement for the year ended December 31, 2019: (Click the icon to view the income statement.) Requirements 1. Compute Next Hope's inventory turnover rate for the year. (Round to two decimal places.) 2. Compute Next Hope's days' sales in inventory for the year. (Round to two decimal places.) Requirement 1. Compute Next 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 - X i Data Table Next Hope Income Statement Year Ended December 31, 2019 Sales Revenue $ 123,000 Cost of Goods Sold: Beginning Merchandise Inventory $ 12,200 58,000 Net Cost of Purchases Cost of Goods Available for Sale 70,200 Less: Ending Merchandise Inventory 15,600 Cost of Goods Sold 54,600 Gross Profit 68,400 Operating Expenses 34,100 $ 34,300 Net Income Choose from any list or enter any number in the