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Vo Manufacturing is the biggest snowmobile manufacturer in the world. It reported the following amounts...

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Question

Accounting

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 3.9 and its gross profit percentage was 4.5 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 1B
Req 2
Req 3
Calculate the inventory turnover ratio for 2018 and 2017.(Round your answers to 1 decimal place.)
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