Snow Pack Corporation is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions):

	2017	2018
Net Sales Revenue	$ 3,400	$ 2,860
Cost of Goods Sold	2,480	2,100
Average Inventory	340	290

Required:

1-b. Calculate the average days to sell inventory for 2018 and 2017.

3. Calculate the 2018 gross profit percentage.

4. The main competitor for Snow Pack is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 3.1 and its gross profit percentage was 3.7 percent. Why was Arctic Cat more likely than Snow Pack to require a write-down for LCM/NRV?