S\&S Industries is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in miltions): 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 S\&S improve or decline in 2018 ? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for S&S is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 3.8 and its gross profit percentage was 4.4 percent. Why was Arctic Cat more likely than \( \$ \& S \)amp;Samp;Samp;S to require a write-down for LCM/NRV? Complete this question by entering your answers in the tabs below. Calculate the average days to sell inventory for 2018 and 2017. (Use 365 days in a year. Use rounded "Inventory Tumover Ratio" and round your answers to 1 decimal place.) S\&S Industries is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): 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 S\&S improve or decline in 2018 ? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for S\&S is Arctic Cat Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 3.8 and its gross profit percentage was 4.4 percent. Why was Arctic Cat more likely than S&S to require a write-down for LCMNNRV? Complete this question by entering your answers in the tabs below. Calculate the inventory tumover ratio for 2018 and 2017. (Round your answers to 1 decimal place.) S\&S Industries is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in milions): 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 tumover at \( \$ \& S \) improve or decline in 2018 ? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for S\&S is Arctic Cat. Prior to being acquired by Textron, incorporated, Arctic Cat reported its inventory turnover was 3.8 and its gross profit percentage was 4.4 percent. Why was Arctic Cat more likely than S\&S to require a write-down for LCM/NRV? Complete this question by entering your answers in the tabs below. Did inventory turnover at S8S improve or decline in 2018 ? Required information In its first month of operations, Literacy for the liliterate opened a new bookstore and bought merchandise in the following orden (1) 300 units at $5 on January 1. (2) 500 units at $9 on January 8 , and (3) 910 units at $10 on January 29 . Assume 1,110 units are on hand at the end of the month Calculate the cost of goods avaliable for sale, cost of goods sold, and ending inventory under the weighted average cost flow issumptions. Assume perpetual inventory system and sold 600 units between January 9 and January 28 . (Round your intermediate calculations to 2 decimal ploces.) S\&S Industries is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements fin inittions): Required: 1.0. 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 S\&S improve or decline in 2018? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for S\&S is Arctic Cat Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 3.8 and its gross profit percentage was 4.4 percent. Why was Arctic Cat more likely than \( \$ \& S \) to require a write-dow for LCM/NRV? Complete this question by entering your answers in the tabs below. Calculate the 2018 gross profit percentage. (Round your answer to 1 decimal place.) In its first month of operations, Literacy for the lliterate opened a new bookstore and bought merchandise in the following order: (1) 300 units at \$5 on January 1. (2) 500 units at $9 on January 8, and (3) 910 units at $10 on January 29. Assume 1,110 units are on hand at the end of the month. Calculate the cost of goods available for sale, cost of goods sold, and ending inventory under the LIFO. Assume perpetual inventory system and sold 600 units between January 9 and January 28 . (Round your intermediate calculations to 2 decimal places.) Required information In its first month of operations, Literacy for the lliterate opened a new bookstore and bought merchandise in the following order: (1) 300 units at $5 on January 1, (2) 500 units at $9 on January 8 , and (3) 910 units at $10 on January 29. Assume 1,110 units are on hand at the end of the month. Calculate the cost of goods available for sale, cost of goods sold, and ending inventory under the FFO. Assume perpetual inventory system and sold 600 units between January 9 and January 28. (Round your intermediate calculations to 2 decimal places.) S\&S Industries is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in mittions) 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 S\&S improve or decline in 2018 ? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for S\&S is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 3.8 and its gro5s profit percentage was 4.4 percent. Why was Arctic Cat more likely than S&S to require a write-down for LCMNRRV? Complete this question by entering your answers in the tabs below. The main competitor for $85 is Arctic Cat, Prior to being acquired by Textron, Incorporated, Arctic Cot feported its inventory turnover was 3.8 and its gross profit percentage was 4.4 percent. Why was Arctic Cat more likely than Sas to require a writedown for 1 CM/NRV? (Select all that apply.)