Access the September 29, 2018, 10-K report for Apple, Inc. (ticker: AAPL), filed on November 5, 2018, 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 profit and gross profit ratio for the 2018 fiscal year. Comment on your computations—assume an industry average of 40% for the gross profit ratio.

4. Compute its inventory turnover and days’ sales in inventory for the year ended September 29, 2018. Comment on your computations—assume an industry average of 15 for inventory turnover and 9 for days’ sales in inventory.