Comparative figures for Apple and Google follow.

Required
1. Compute inventory turnover for each company for the most recent two years shown.
2. Compute days’ sales in inventory for each company for the three years shown.
3. Did the current year inventory turnover underperform or outperform the industry’s average turnover of 15 in the case of

(a) Apple

(b) Google?

Transcribed Image Text:

$ millions Inventory ....... Cost of sales .... Current Year $ 4,106 161,782 Apple One Year Prior $ 3,956 163,756 Two Years Prior $ 4,855 141,048 Current Year $ 999 71,896 Google One Year Prior $ 1,107 59,549 Two Years Prior $749 45,583