Use Apples financial statements in Appendix A to answer the following. Required 1. What amount of inventories

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Use Apple’s financial statements in Appendix A to answer the following.

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1. What amount of inventories did Apple report as a current asset (a) on September 29, 2018? (b) On September 30, 2017?

2. Inventories make up what percent of total assets (a) on September 29, 2018? (b) On September 30, 2017?

3. Assuming Apple has enough inventory to meet demand, does Apple prefer inventory to be a lower or higher percentage of total assets?

4. Compute (a) inventory turnover for fiscal year ended September 29, 2018, and (b) days’ sales in inventory as of September 29, 2018.

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Financial Accounting Information For Decisions

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Authors: John J. Wild

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Use Apples financial statements in Appendix A to answer the following. Required 1. What amount of inventories

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1 a On September 29 2018 Apple reported inventories of 4788 million as a current asset b On Septemb...View the full answer

Financial Accounting Information For Decisions

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