Multiple Choice
In 2015, Hidey Company had average inventory of $86,000. The 2015 income statement showed net sales of $2,200,000 and gross profit of $420,000. In 2014, it was taking the company approximately 30 days to sell its inventory.
-In 2015, the company's days sales in inventory
A) improved.
B) deteriorated.
C) remained unchanged.
D) More information is needed to make this determination.
Correct Answer:
Verified
Correct Answer:
Verified
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