Clark & Scott Corporation is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): 2017 Net Sales Revenue Cost of Goods Sold Average Inventory $5,200 3,620 2018 $ 4,660 3,220 470 520 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 4.9 and its gross profit percentage was 5.5 percent. Why was Arctic Cat more likely than Clark & Scott to require a write-down for LCM/NRV? Complete this question by entering your answers in the tabs below. Reg 1A Req 18 Reg 2 Reg 3 Req 4 Calculate the inventory turnover ratio for 2018 and 2017. (Round your answers to 1 decimal place.) Times per Year 2018 2017 Inventory Turnower Ratio Days 2018 2017 Average Days to Sell Inventory Did Inventory turnover at Clark & Scott improve or decline in 20187 Olmprove ODecino Reg 1R Calculate the 2018 gross profit percentage. (Round your answer to 1 decimal place.) Gross profit percentage for 2018 to require a write-down for LCM/NRV? (Select all that apply.) Arctic Cat had a higher number of days to sell than Clark & Scott Arctic Cat had a lower gross profit percentage than Clark & Scott. Arctic Cat had a greater number of inventory turns than Clark & Scott.