Bell Companies is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): Net Sales Revenge Cost of Goods sold Average Inventory 2017 $ 4.500 3,760 450 2018 $ 3,960 3.300 400 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. nen Req1A Pleq 18 Reg 2 Req3 Reg 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 Reg 1A Reg 18 > Bell Companies is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements in millions): Net Sales Revenue Cost of Goods Sold Average Inventory 2017 $ 4,500 3,760 450 2018 $ 3,960 3,300 400 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 42 and its gross profit percentage was 4.8 percent. Why was Arctic Cat more likely than Bell to require a write-down for L.CM/NRV? Complete this question by entering your answers in the tabs below. Les Reg 1A Req 18 Req2 Reg 3 Req4 Calculate the average days to sell Inventory for 2018 and 2017. (Use 365 days in a year. Use rounded Inventory Tumover Ratio" and round your answers to 1 decimal place.) Days 2018 2017 Average Days to Sell Inventory Bell Companies is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): 2017 2018 Net Sales Revenue $ 4,500 $ 3,960 Cost 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 LCMNRV? Complete this question by entering your answers in the tabs below. cos Reg 1A Reg 16 Reg 2 Req3 Reg 4 Calculate the 2018 gross profit percentage. (Round your answer to 1 decimal place) Gross profit percentage for 2018 %