Progress Sandhill Company has a July 31 fiscal year end and uses a perpetual inventory system. The records of Sandhill Company show the following data 2021 2020 2019 Income statement: Sales Cost of goods sold Operating expenses Balance sheet: Merchandise inventory $350,000 246,000 73,000 $335.000 242.000 73,000 $350,000 266,000 73,000 56,000 43,000 35,000 After its July 31, 2021. year end, Sandhill discovered two errors: 1. At July 31, 2020, Sandhill had $10,000 of goods held on consignment at another company that were not included in the physical count. 2. In July 2020, Sandhill recorded a 515,000 inventory purchase on account that should have been recorded in August 2020, SANDHILL COMPANY Income Statement Year Ended July 31 2021 2020 2019 e Textbook and Media Calculate the incorrect and correct inventory turnover ratios for 2020 and 2021. (Round answers to 2 decimal places, s. 52.75) 2020 times times Incorrect inventory turnover times times Correct inventory turnover e Textbook and Media 9 Chapter 6 Assignm