Lopez industries is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): Required: 1.3. Calculate the inventory furnover ratio for 2018 and 2017. 1.b. Calculate the average days to sell inventory for 2018 and 2017. 2. Did inventory turnover at Lopez improve or decline in 2018 ? 3. Calculote the 2018 gross profit percentoge. 4. The main competitor for Lopez is Arctic Cot. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 4.7 and its gross profit percentoge was 5.3 percent. Why was Arctic Cat more likely than Lopez to require a writedown for LCM/NRV