Indicate Whether Each of the Following Statements About Financial Statement

Short Answer

Indicate whether each of the following statements about financial statement analysis is true or false.
Having too little inventory can hurt a company's profitability because of lost sales.______
Having too much inventory can hurt a company's profitability because of excess costs.______
Generally,a lower inventory turnover indicates that merchandise is being handled more efficiently.______
Average days to sell inventory is the number of times,on average,that inventory is replaced during the year.______
Values for the inventory turnover ratio vary widely among different industries.______