Selected financial information for Gibson Company for Year 4 follows: $1,500,000 1,050,000 Sales Cost of goods sold Merchandise inventory Beginning of year End of year 158,000 195,000 Required Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during Year 4? (Round your answer to 2 decimal places.) X Answer is complete but not entirely correct. Merchandise inventory turnover 8.50 X times