The following information pertains to two competitors, Superior Inc. and Michigan Corp. Company Beginning Inventory Ending Inventory Cost of Goods Sold Superior Inc. $186,000 $145,000 $1,251,162 Michigan Corp. $408,000 $465,000 $2,257,172 Superior Inc. reported sales revenues of $1,602,000, and Michigan Corp. reported sales revenue of $3,379,000. Calculate the inventory turnover ratio for Superior and Michigan (Round answers to 1 decimal place, eg. 10.5.) Superior Inc. Michigan Corp. times times Inventory turnover ratio eTextbook and Media 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. S Gross margin Gross margin ratio % eTextbook and Media On the basis of inventory turnover, which company is moving its inventory faster? Michigan Corp. moves its inventory faster. eTextbook and Media