The following information pertains to two competitors, Superior Inc. and Michigan Corp. Company Beginning Inventory Ending Inventory Cost of Goods Sold Superior Inc. $179,000 $145,000 $1,230,719 Michigan Corp. $399,000 $457,000 $2,267,120 Superior Inc. reported sales revenues of $1,613,000, and Michigan Corp.reported sales revenue of $3,334,000. Calculate the inventory turnover ratio for Superior and Michigan. (Round answers to 1 decimal place, e.g. 10.5.) Superior Inc. Michigan Corp. times times Inventory turnover ratio e Textbook and Media Calculate the gross margin and gross margin ratio for Superior and Michigan. (Round gross margin ratio to 1 decimal place, eg. 10.5%.) Calculate the gross margin and gross margin ratio for Superior and Michigan. (Round gross margin ratio to 1 decimal place, e.g. 10.5%.) Superior Inc. Michigan Corp. $ Gross margin Gross margin ratio % % e Textbook and Media On the basis of inventory turnover, which company is moving its inventory faster? moves its inventory faster