Bell Companies is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): 2012 2018 Not Sales Revenue $ 4,500 $ 3,960 Cont of Goods Sold 3,760 3,300 Average Inventory 450 400 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 Bell improve or decline in 2018? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for Bellis Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 4.2 and its gross profit percentage was 4.8 percent. Why was Arctic Cat more likely than Bell to require a write-down for LCM/NRV? Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Req2 Req3 Req 4 Calculate the inventory turnover ratio for 2018 and 2017. (Round your answers to 1 decimal place.) Times per Year 2018 2017 Inventory Turnover Ratio e Regta Reg 1B > Complete this question by entering your answers in the tabs below. Reg 3 Req IA Reg 1B Reg 2 Reg 4 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 Complete this question by entering your answers in the tabs below. Req 1A Req 1B Reg 2 Reg 3 Reg 4 The main competitor for Bell is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 4.2 and its gross profit percentage was 4.8 percent. Why was Arctic Cat more likely than Bell to require a write- down for LCM/NRV? (Select all that apply.) Arctic Cat had a higher number of days to sell than Bell. Arctic Cat had a lower gross profit percentage than Bell. Arctic Cat had a greater number of inventory turns than Bell