Aegis Industries Incorporated is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial

statements $($in millions$)$:

Required:

$1-$a$.$ Calculate the inventory turnover ratio for $2021$ and $2020.$

$1-$b$.$ Calculate the average days to sell inventory for $2021$ and $2020.$

Did inventory turnover at Aegis improve or decline in $2021?$

Calculate the $2021$ gross profit percentage.

The main competitor for Aegis is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory

turnover was $4\mathrm{.}5$ and its gross profit percentage was $5\mathrm{.}1$ percent. Why was Arctic Cat more likely than Aegis to require a write$-$

down for LCM or NRV$?$

Complete this question by entering your answers in the tabs below.

Req $1$B

Req $2$

Req $3$

Req $4$

Calculate the average days to sell inventory for $2021$ and $2020.$

Note: Use $365$ days in a year. Use rounded "Inventory Turnover Ratio" and round your answers to $1$ decimal place.