Which of the following statements explains the increased inventory turnover ratio?By: Answerout
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In a comparison of 20X2 to 20X1, Neir Co.’s inventory turnover ratio increased substantially although sales and inventory amounts were essentially unchanged.
Which of the following statements explains the increased inventory turnover ratio?
A. Cost of goods sold decreased.
B. Accounts receivable turnover increased.
C. Total asset turnover increased.
D. Gross profit percentage decreased.
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