The following data (in millions) were taken from recent annual reports of Apple Inc., a manufacturer of

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The following data (in millions) were taken from recent annual reports of Apple Inc., a manufacturer of personal computers and related products, and Mattel Inc., a manufacturer of toys, including Barbie®, Hot Wheels®, and Disney Classics:

a. Determine the inventory turnover for Apple and Mattel. Round to one decimal place.

b. Would you expect Mattel’s inventory turnover to be higher or lower than Apple’s? Why?

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Accounting

ISBN: 9781337902687

28th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

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Question Posted: Apr 07, 2021 08:03 AM

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The following data (in millions) were taken from recent annual reports of Apple Inc., a manufacturer of

Question:

Cost of merchandise sold Inventory, end of year Inventory, beginning of the year Apple $163,756 3,956 Mattel $2,716 543 4,855 601

Step by Step Answer:

ANSWER a The inventory turnover for Apple is 41 163756 39...View the full answer

Accounting

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