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Access the September 24, 2016, 10-K report for Apple, Inc. (ticker: AAPL), filed on October 26, 2016,

Question:

Access the September 24, 2016, 10-K report for Apple, Inc. (ticker: AAPL), filed on October 26, 2016, from the EDGAR filings at SEC.gov.


Required

1. What products are manufactured by Apple?

2. What inventory method does Apple use?

3. Compute its gross margin and gross margin ratio for the 2016 fiscal year. Comment on your computations—assume an industry average of 40% for the gross margin ratio.

4. Compute its inventory turnover and days’ sales in inventory for the year ended September 24, 2016. Comment on your computations—assume an industry average of 15 for inventory turnover and 9 for days’ sales in inventory.

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Related Video

Inventory turnover is a key metric that helps businesses evaluate the efficiency of their operations. A high turnover ratio is generally considered positive, indicating that the company is effectively selling its inventory and making efficient use of its resources. On the other hand, a low turnover ratio may indicate issues such as overstocking or slow sales and may require further examination to identify and address the underlying causes. Businesses use this ratio to make decisions about inventory levels, production schedules, and pricing strategies. It also helps businesses to identify areas where they may need to make improvements, such as reducing lead times for production or optimizing sales and marketing efforts. Additionally, inventory turnover is used by investors and analysts as a key performance indicator to evaluate the financial health and growth potential of a company.

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