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At the end of the third quarter, a department store is showing lower cash flows and lower sales on its financial statements compared to the

At the end of the third quarter, a department store is showing lower cash flows and lower sales on its financial statements compared to the average of the previous four quarters. It also shows an increase in inventory compared to the second quarter. Which of the following options is MOST likely to be the cause?

Seasonality

Depreciation

In Decline Stage

Efficiency

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