value 1.00 points Which one of the following statements about inventory is not correct? O The cost of inventory can vary over time and may be affected by technological innovation. O The measurement of inventory affects both the balance sheet and the income statement within an accounting period O The ending inventory of one accounting period becomes the beginning inventory of the next accounting period O An increase in inventory levels is always a sign of inefficiency in inventory management. References Learning Objective: 07-01 Describe the Learning Objective: 07-05 Evaluate invent issues in managing different types of inventory Multiple Choice interpreting the inventory turnover ratio Type here to search