Accounts payable turnover for Blue Industries increased from 10 to 12 during 2018. Whichof the following statements best describes what this means?a. The company paid its accounts payable more quickly in 2018, signaling a strongerliquidity position.b. The company paid its accounts payable more slowly in 2018, signaling a weakerliquidity position.c. Inventory turned over faster in 2018, meaning sales increased.d. Not enough information is provided to form a conclusion.

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.