E7-15 (Algo) Analyzing and Interpreting the Inventory Turnover Ratio [LO 7-5] Baker Corporation is the biggest snowmobile manufacturer in the world. It reportod the following amounts in its financial statements (in milions): Required: 1.a. Calculate the inventory turnover ratio for 2018 and 2017. 1.b. Calculate the average days to sell ittventory for 2018 and 2017. 2. Did inventory turnover at Baket improve or decline in 2018? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for Baker is Arctic Cot. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 4.1 and its gross profit percentage was 4.7 percent. Why was Arctic Cat more likely than Baker to require a write-down for LCMNNRV? Complete this question by entering your answers in the tabs below, Calculate the inventory turnover ratio for 2018 and 2017 . (found your answers to 1 decimal place.) E7-15 (Algo) Analyzing and Interpreting the Inventory Turnover Ratio [LO 7-5] Baker Corporation 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 2018 and 2017. 1.b. Calculate the average days to sell inventory for 2018 and 2017. 2. Did inventory turnover at Baker improve of decline in 2018 ? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for Baker is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 4.1 and its gross profit percentage was 4.7 percent. Why was Arctic Cat more likely than Baker to require a write-down for LCM/NRV? Complete this question by entering your answers in the tabs below. Calculate the average days to sell inventory for 2018 and 2017. (Use- 365 days in a year. Use rounded "Inventory Turnover. Ration and round your answers to 1 decimal place.) 7-15 (Algo) Analyzing and Interpreting the Inventory Turnover Ratio [LO 7-5] Saker Corporation is the biggest snowmobile manufacturer in the worid. It reported the following amounts in its financial statements (in nililions): 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 Baker improve or decline in 2018 ? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for Baker is Arctic Cat. Prior to being acquired by Textron, Incorporated. Arctic Cat reported its inventory turnover was 4.1 and its gross profit percentage was 4.7 percent. Why was Arctic Cat more likely than Baker to require a write-down for LCM/NRV? Complete this question by entering your answers in the tabs below. Did inventory turnover at Baker improve or dedine in 2018 ? E7-15 (Algo) Analyzing and Interpreting the Inventory Turnover Ratio [LO 7-5] Baker Corporation is the biggest snowmoblle manufacturer in the world, it reported the following amounts in its financial statements (in millions): Required: 1-a. Calculate the inventory turnover ratio for 2018 and 2017. 1.b. Calculote the average days to sell inventory for 2018 and 2017. 2. Did inventory turnover at Baker improve or decline in 2018? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for Baker is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 4.1 and its gross proff percentage was 4.7 percent. Why was Arctic Cat more llkely than Baker to require a write-down for LCMNNRV? Complete this question by entering your answers in the tabs below. Calculate the 2018 gross profit percentage. (Round your answer to 1 decimal place.) Baker Corporation is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in militions): 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 Baker improve or decline in 2018 ? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for Baker is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 4.1 and its gross profit percentage was 4.7 percent. Why was Arctic Cat more likely than Baker to require a write-down for LCM/NRV? Complete this question by entering your answers in the tabs below. The main competitor for Baker is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 4.1 and its gross profit percentage was 4.7 percent. Why was Arctic Cat more likely than Baker to require a write-down for LCM/NRV? (Select all that apply.)