=+b. What conclusions can be drawn from these data concerning the inventories?

Dell Inc. and Hewlett-Packard Company (HP) compete with each other in the personal computer market. Dell’s strategy is to assemble computers to customer orders, rather than for inventory.

Thus, for example, Dell will build and deliver a computer within four days ofa customer enter¬

ing an order on a Web page. Hewlett-Packard, on the other hand, builds some computers prior to receiving an order, then sells from this inventory once an order is received. Below is selected financial information for both companies from a recent year’s financial statements (in millions):

Hewlett-Packard