An analyst calculates and summarizes two financial ratios for a manufacturing company and presents these ratios relative to industry averages. The analyst aims to assess whether the company has demonstrated efficient inventory management. Company Industry average Inventory turnover ratio 4.5 2.3 Sales growth (in %) 7.6 5.3 If the analyst determines that the percentage of write-downs during the year is minimal, he will conclude that the manufacturing company . Differentiate between Holds inadequate inventory and managing inventory? Explain