QUESTION 21 (10 points) - Inventory Turns and Inventory Costs We are comparing The Home Depot, Inc. and Lowe's Companies, Inc., the two giant retailers in home & construction products and services, regarding their inventory turns and inventory costs. (a)[2] You need to find official corporate data for 2018 to fill in Part 1 of the table below. Specifically, you need to locate the 10-K fillings and annual reports on: - The Home Depot, Inc.: http://corporate.homedepot.com/ -Lowe's Companies, Inc.: http://www.lowes.com/ and find "Investor Relations" Assume that price and inventory turns are independent of each other; and there are 365 days of operations in a year. In addition, the annual inventory holding cost rate is provided in the table. For Part 2 and Part 3, show equations and calculations, and complete the table. (b)[2] What is the average number of days that a product typically stays in the two companies' inventories until sold (inventory duration)? (2 decimals) (c)[1] What are the inventory turns per year at these two retailers? (2 decimals) (d) [1] What are the per-unit inventory cost rates at the two companies? (%, 2 decimals) (e) [2] Regarding equivalent cordless drills with the same unit cost of $70, which retailer has the lower inventory holding cost and by how much? (Dollar amounts) (f)[2] Find the average gross profit on an inventory merchandise investment of $70. Then, find the immediate gross profit (gross profit minus inventory holding cost). Which company has the higher immediate gross profit