Vo Manufacturing 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 $2017.$

Did inventory turnover at Vo improve or decline in $2018?$

Calculate the $2018$ gross profit percentage.

The main competitor for Vo is Arctic Cat. Prior to being acquired by Textron, Incorporated, Arctic Cat reported its inventory

turnover was $3\mathrm{.}9$ and its gross profit percentage was $4\mathrm{.}5$ percent. Why was Arctic Cat more likely than Vo to require a write$-$down

for LCM$/$NRV$?$

Complete this question by entering your answers in the tabs below.

Req $1A$

Req $1$B

Req $2$

Req $3$

Calculate the inventory turnover ratio for $2018$ and $2017.($Round your answers to $1$ decimal place.$)$