In 2018, Hidey Company Had Average Inventory of $86,000

question 127

Multiple Choice

In 2018, Hidey Company had average inventory of $86,000. The 2018 income statement showed net sales of $2,200,000 and gross profit of $420,000. In 2017, it was taking the company approximately 30 days to sell its inventory. In 2018, the company's days sales in inventory

• A) improved.
• B) deteriorated.
• C) remained unchanged.
• D) More information is needed to make this determination.

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