An analyst does research about liquidity ratios. An analyst compares a company that uses the first-in, first-out (LIFO) method of inventory valuation with other companies in the same industry that mostly uses the last-in, first-out (LIFO) method of inventory valuation. Which of the following least likely needs an adjustment in order to compare the company with its competitors
A. Quick ratio.
B. Current ratio.
C. Cash conversion cycle.
参考答案：A
解析： 如果该公司存货定价是用LIFO法，而行业内的其他公司存货定价用FIFO法，那么这两种方法会直接造成公司和其竞争对手的销货成本和存货存在比较大的差异，为了消除这种由于会计处理方式所造成的差异，就需要调整公司的销货成本和存货。
Quick ratio=(cash+marketable securities+receivables)/current liabilities
Current ratio=current assets/current liabilities
Cash conversion cycle=days of sales outstanding+days of inventory on hand-days of payables
其中，流动比率涉及存货，现金周转期涉及销货成本和存货，都需要进行调整，而速动比率不涉及销货成本或存货，所以不需要调整。