Polaris Industries Inc., is the biggest snowmobile manufacturer in the world. Assume that it reported the following amounts in its financial statements (in millions):

	2020			2019			2018
Net Sales Revenue	$	2,208		$	2,040		$	1,917
Cost of Goods Sold		1,762			1,517			1,557
Average Inventory		246			263			255

Required: 1-a. Calculate the inventory turnover ratio for 2020, 2019, and 2018. (Round your answers to 1 decimal place.)

1-b. Calculate the average days to sell inventory for 2020, 2019, and 2018. (Consider 365 days in a year. Consider inventory Turnover Ratio rounded to 1 decimal place. Round final answers to 1 decimal place.)

2. Is Polaris performing better than its competitor where the inventory turnover is 4.5 times per year (81.1 days to sell)? Both companies use the same inventory costing method (FIFO).

multiple choice

Yes

No