bell companies is the biggest snowmobile manufacturer in the world. it reported the following amounts in its financial statements (in millions): 20172018 net sales revenue$ 4,500$ 3,960 cost of goods sold3,7603,300 average inventory450400 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 bell improve or decline in 2018? 3. calculate the 2018 gross profit percentage. 4. the main competitor for bell is arctic cat. prior to being acquired by textron, incorporated, arctic cat reported its inventory turnover was 4.2 and its gross profit percentage was 4.8 percent. why was arctic cat more likely than bell to require a write-down for lcm/nrv?
