Puri Industries is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): Net Sales Revenue. 2017 $ 4,000 2018 $3,460 Cost of Goods Sold 3,150 2,720 Average Inventory 400 350 Required: 1-a. Calculate the inventory turnover ratio for 2018 and 2017. 1-b. Calculate the average days to sell inventory for 2018 and 2017. 2. Did inventory turnover at Puri improve or decline in 2018? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for Puri is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 3.7 and its gross profit percentage was 4.3 percent. Why was Arctic Cat more likely than Puri to require a write-down for LCM/NRV? Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 2 Req 3 Req 4 Calculate the inventory turnover ratio for 2018 and 2017. (Round your answers to 1 decimal place.) Times per Year 2010 2017 Inventory Turnover Ratio