Question

A comparison of 2014 to 2013 performance shows that Neir Company’s inventory turnover increased substantially although sales and inventory amounts were essentially unchanged.

Required:
Which of the following statements best explains the increased inventory turnover ratio?
1. Cost of goods sold decreased.
2. Accounts receivable turnover increased.
3. Total asset turnover increased.
4. Gross profit percentage decreased.



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  • CreatedSeptember 10, 2014
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