fair point to make. they've rapidly migrated from low cost to...

fair point to make. they've rapidly migrated from low cost to serve channels to high cost to serve ones, to be honest I would have thought the incremental volume would have had a very strong influence on COGS/ Purchase Cost deflation...although I suspect global inventory holding would be eating into any advantage. I also suspect that cash outstanding would be well up TY v LY. (all just an educated guess at this point).