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The following information pertains to two competitors, Superior Inc. and Michigan Corp. Company Superior Inc. Michigan Corp. Beginning Inventory $186,000 $408,000 Ending Inventory $145,000 $465,000 Cost of Goods Sold $1,251,162 $2,257,172 Superior Inc. reported sales revenues of $1,602,000, and Michigan Corp.reported sales revenue of $3,379,000. * Your answer is incorrect. 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 X Your answer is incorrect. 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