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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Definitions:

Blood Relatives

Individuals related by direct lineage or genetic connections, such as parents, siblings, and offspring.

Relatedness

The feeling or state of being connected to others, often considered a fundamental human need.

Grandfather

A parent of one's father or mother and a significant male elder in the family.

Cousin

A family member who shares one set of grandparents with you, either on your mother's or father's side.