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In the prior year, Orange Co. had an inventory turnover of 8 times. In the...

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Accounting

In the prior year, Orange Co. had an inventory turnover of 8 times. In the current year, the company's inventory turnover is 7.1 times. What does this indicate?

Orange Co. is more profitable on their inventory.

Orange Co.'s inventory turnover improved.

Orange Co. may be carrying too high of an inventory balance.

Orange Co. became more efficient at selling inventory.

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