The main competitor for H\&S is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 4.3 and its gross profit percentage was 4.9 percent. Why was Arctic Cat more likely than H\&S to require a writedown for LCM/NRV? (Select all that apply.) Calculate the 2018 gross profit percentage. (Round your answer to 1 decimal place.) Did inventory turnover at H\&S improve or decline in 2018? \begin{tabular}{|l|} \hline Improve \\ \hline Decline \\ \hline \end{tabular} Calculate the average days to sell inventory for 2018 and 2017. (Use 365 days in a year. Use rounded "Inventory Turnover Ratio" and round your answers to 1 decimal place.) H\&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 H\&S improve or decline in 2018 ? 3. Calculate the 2018 gross profit percentage. 4. The main competitor for H\&S is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory turnover was 4.3 and its gross profit percentage was 4.9 percent. Why was Arctic Cat more likely than H&S to require a write-down for LCM/NRV? Complete this question by entering your answers in the tabs below. Calculate the inventory turnover ratio for 2018 and 2017. (Round your answers to 1 decimal place.)