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 Cost of Goods Sold Average Inventory 2020 2019 Required: 1-a. Calculate the inventory turnover ratio for 2020, 2019, and 2018. (Round your answers to 1 decimal place.) 2018 2020 2019 2018 2020 2019 $2,128 $1,960 1,682 1,477 251 Inventory Turnover Ratio Yes 238 No times per year times per 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 year times per year 2018 $1,837 1,477 243 days days days 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).

Polaris Industries Inc., is the biggest snowmobile manufacturer in the world. Assume that it reported the following amounts in its financial statements (in millions): 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). Yes No