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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):
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 Net Sales Revenue $ 2,128 2019 $ 1,960 2018 $ 1,837 Cost of Goods Sold 1,682 Average Inventory 238 1,477 251 1,477 243 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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