Computing and Evaluating Inventory and PPE Turnovers Intel Corporation reports the following financial statement amounts in its 10-K reports. Cost of Plant, Property and $ millions Sales 2016 $53,448 Goods Sold Inventories Equipment, Net $13,782 $5,553 $36,171 2017 56,485 14,117 6,983 41,109 2018 63,763 16,403 7,253 48,976 a. Compute the inventory and PPE turnover ratios for both 2017 and 2018. Note: Do not round until your final answer. Note: Round your final answers to one decimal place (for example, enter 6.8 for 6.77555). 2017 2018 Inventory turnover 2.1 x 2.5 x PPE turnover 1.5 -> 1.5 x b. What changes are evident in the turnover rates of Intel for these years? Inventory turnover Ratio remained relatively constant: PPE turnover Ratio remained relatively constant =