Clark & Scott Corporation 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 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 Clark & Scott improve or decline in 2018? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for Clark & Scott is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its Inventory turnover was 3.4 and its gross profit percentage was 4.0 percent. Why was Arctic Cat more likely than Clark & Scott to require a write-down for LCM/NRV? Req LA 2017 $ 3,700 2,880 300 Complete this question by entering your answers in the tabs below. 2018 $ 3,160 2,400 320 Req 18 Calculate the inventory turnover ratio for 2018 and 2017. (Round your answers to 1 decimal place.) Times per Year Inventory Tumover Ratio Req 2 2018 Req 3 2017 Req4 Req 18 > ces Clark & Scott Corporation 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 Required: 2017 $ 3,700 2,880 380 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 Clark & Scott improve or decline in 2018? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for Clark & Scott is Arctic Cat. Prior to being acquired by Textron, Incorporated, ctic Cat reported its inventory turnover was 3.4 and its gross profit percentage was 4.0 percent. Why was Arctic Cat more likely than Clark & Scott to require a write-down for LCM/NRV? 2010 $ 3,160 2,400 320 Complete this question by entering your answers in the tabs below. Req 1A Req 18 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 Average Days to Sell Inventory Req 2 2018 Req 3 2017 Clark & Scott Corporation is the biggest snowmobile manufacturer in the world. It reported th statements (in millions): Net Sales Revenue Cost of Goods Sold Average Inventory 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 Clark & Scott improve or decline in 2018? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for Clark & Scott is Arctic Cat. Prior to being acquired by Textron, Incorp inventory turnover was 3.4 and its gross profit percentage was 4.0 percent. Why was Arctic C require a write-down for LCM/NRV? Req 1A 2017 $ 3,700 2,880 380 Answer is not complete. Complete this question by entering your answers in the tabs below. Req 18 2018 $ 3,160 2,400 320 Req 2 Req 3 Calculate the 2018 gross profit percentage. (Round your answer to 1 decimal place.) Gross profit percentage for 2018 % Req 4
