Question
The following selected ratios are available for Pampered Pets Inc.: 2021 2020 Current ratio Acid-test 2.6 :1 1.4 :1 2019 2.1 :1 0.8 1 0.6
The following selected ratios are available for Pampered Pets Inc.: 2021 2020 Current ratio Acid-test 2.6 :1 1.4 :1 2019 2.1 :1 0.8 1 0.6 :1 Receivables turnover 6.7 times 7.4 times Inventory turnover Operating cycle 7.5 times 8.7 times 103 days 91 days 0.7 :1 8.2 times 9.9 times 81 days (a) Has the company's collection of its receivables improved or weakened over the past three years? The company's collection of its receivables over the past three years. (b) Is the company selling its inventory faster or slower than in past years? The company selling its inventory than in past years
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