H&S Industries 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 2017 $ 4,600 3,890 2018 $ 4,060 3,430 460 Average Inventory Required: 410 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 H&S improve or decline in 2018? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for H&S is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 4.3 and its gross profit percentage was 4.9 percent. Why was Arctic Cat more likely than H&S to require a write- down for LCM/NRV? Complete this question by entering your answers in the tabs below. Req 1A Req 10 Req 2 Req 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 Turnover Ratio A Req 18 >