AA $5-1$ Company Analysis LO C$1,$ A$3$

Use Apple's financial statements in Appendix A to answer the following.

Required:

What amount of inventories did Apple report as a current asset $($a$)$ on September $28,2019?($b$)$ On September $29,2018?$

Inventories make up what percent of total assets $($a$)$ on September $28,2019?($b$)$ On September $29,2018?$

Assuming Apple has enough inventory to meet demand, does Apple prefer inventory to be a lower or higher percentage of total assets?

Compute $($a$)$ inventory turnover for fiscal year ended September $28,2019,$ and $($b$)$ days' sales in inventory as of September $28,2019.$

Complete this question by entering your answers in the tabs below.

Compute $($a$)$ inventory turnover for fiscal year ended September $28,2019,$ and $($b$)$ days' sales in inventory as of September $28,2019.$

Note: Do not round intermediate calculations. Round your answers to $1$ decimal place.

$\backslash$table$[[($a$)$ Inventory turnover,times$],[($b$)$ Days' sales in inventory,days$]]$

ASSETS

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities

$\backslash$table$[[$Accounts payable,$$,46,236,$$$,55,888],[$Other current liabilities,,$37,720,,33,327],[$Deferred revenue,,$5,522,,5,966],[$Commercial paper,,$5,980,,11,964],[$Term debt,,$10,260,,8,784],[$Total current liabilities,,$105,718,,115,929],[$Non$-$current liabilities$],[$Term debt,,$91,807,,93,735],[$Other non$-$current liabilities.,,$50,503,,48,914],[$Total non$-$current liabilities,,$142,310,,142,649],[$Total liabilities,,$248,028,,258,578],[$Commitments and contingencies$],[$Shareholders$\text{'}$ equity$],[\backslash$table$[[$Common stock and additional paid$-$in capital, $$0\mathrm{.}00001$ par value: $12,600,000$ shares$],[$authorized; $4,443,236$ and $4,754,986$ shares issued and outstanding, respectively$]],,45,174,,40,201],[$Retained earnings,,$45,898,,70,400],[$Accumulated other comprehensive income $($loss$),*,(584),,(3,454)$