please make sure the answer is correct 100% EX 17-12 Inventory analysisQT, Inc., and Elppa Computers, Inc., compete with each other in the personal computermarket. QT assembles computers to customer orders, building and delivering a com-puter within four days of a customer entering an order online. Elppa, on the other hand,builds computers for inventory prior to receiving an order. These computers are sold fromOBJ. 3 Chapter 17 Financial Statement Analysis865inventory once an order is received. Selected financial information for both companiesfrom recent financial statements follows (in millions):QTElppa$120,35792,385Sales$56,940Cost of merchandise soldInventory, beginning of periodInventory, end of period44,7541,3826,3171,4047490a. Determine for both companies (1) the inventory turnover and (2) the number of days'sales in inventory. Round to one decimal place.b.Interpret the inventory ratios in the context of both companies' operatingstrategies.

Solution: a) Compute inventory turnover ratio for QT. Inventory Turnover = Cost of Goods…

EX 17-12 Inventory analysis QT, Inc., and Elppa Computers, Inc., compete with each other in the personal computer market. QT assembles computers to customer orders, building and delivering a com- puter within four days of a customer entering an order online. Elppa, on the other hand, builds computers for inventory prior to receiving an order. These computers are sold from OBJ. 3

EX 17-12 Inventory analysis QT, Inc., and Elppa Computers, Inc., compete with each other in the personal computer market. QT assembles computers to customer orders, building and delivering a com- puter within four days of a customer entering an order online. Elppa, on the other hand, builds computers for inventory prior to receiving an order. These computers are sold from OBJ. 3

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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