Check 7 E7-15 (Static) Analyzing and Interpreting the Inventory Turnover Ratio (LO 7-5) Polaris Industries Incorporated is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): 1432 points Net Sales Ravenue Cost of Goods sold Average Inventory Required: 2017 $5,430 4,100 765 2018 $ 6,080 4,580 380 eBook H 1-a. Calculate the inventory turnover ratio for 2018 and 2017 1-b. Calculate the average days to sell Inventory for 2018 and 2017 2. Did Inventory turnover at Polaris improve or decline in 2018? 3. Calculate the 2018 gross profit percentage 4. The main competitor for Polaris Is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 29 and its gross profit percentage was 3.5 percent. Why was Arctic Cat more likely than Polaris to require a write down for LCM/NRV? Print Complete this question by entering your answers in the tabs below. ReqSA Reg 16 Reg 2 Rega Reg4 Calculate the average days to sell Inventory for 2018 and 2017. (Use 365 days in a year, Use rounded "inventory Turnover Ratio and round your answers to 1 decimal place.) Days 2018 2017 Average Days to Sell Inventory