Question
Polaris Industries Inc., is the biggest snowmobile manufacturer in the world. Assume that it reported the following amounts in its financial statements (in millions):
Polaris Industries Inc., is the biggest snowmobile manufacturer in the world. Assume that it reported the following amounts in its financial statements (in millions): Net Sales Revenue 2020 $ 2,008 2019 $ 1,840 2018 $ 1,717 Cost of Goods Sold 1,562 Average Inventory 226 1,417 233 1,357 225 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
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