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polaris industries incorporated is the biggest snowmobile manufacturer in the world. it reported the following amounts in its financial statements (in millions): 2017 2018 net sales revenue $ 5,430 $ 6,080 cost of goods sold 4,100 4,580 average inventory 765 880 required: 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 2.9 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?

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