Question: Access the September 26, 2015, 10-K report for Apple, Inc. (ticker: AAPL), filed on October 28, 2015, from the EDGAR filings at SEC.gov. Required 1.

Access the September 26, 2015, 10-K report for Apple, Inc. (ticker: AAPL), filed on October 28, 2015, from the EDGAR filings at SEC.gov.
Required
1. What products are manufactured by Apple?
2. What inventory method does Apple use? (Hint: See the Note 1 to its financial statements.)
3. Compute its gross margin and gross margin ratio for the 2015 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 26, 2015. Comment on your computations-assume an industry average of 15 for inventory turnover and 9 for days' sales in inventory.

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