A Company Reported the Following Amounts in Its Financial Statements

question 73

Multiple Choice

A company reported the following amounts in its financial statements: $\begin{array}{ll}& \underline{2015}& \underline{2014} \\ \text {Average inventory } &{\$ 100,000} & {\$ 60,000}\\ \text { Cost of goods sold } &2,000,000 & 1,500,000\end{array}$ From 2014 to 2015,the company's efficiency in managing inventory was

• A)declining,because the inventory turnover ratio is decreasing.
• B)improving,because the inventory turnover ratio is increasing.
• C)declining,because the inventory turnover ratio is increasing.
• D)improving,because the inventory turnover ratio is decreasing.

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