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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
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 $2,268 $2,100 Net Sales Revenue Cost of Goods Sold $1,977 1,617 1,822 1,547 Average Inventory 252 272 264 Required: 1-a. Calculate the inventory turnover ratio for 2020, 2019, and 2018. (Round your answers to 1 decimal place.) Inventory Turnover Ratio 2020 times per year 2019 times per year 2018 times per year 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.) Average Days to Sell 2020 days 2019 days 2018 days
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