Question: TAKING IT TO THE NET A3 APPLE BTN 5-3 Access the September 29, 2018, 10-K report for Apple, Inc. (ticker: AAPL), filed on November

TAKING IT TO THE NET A3 APPLE BTN 5-3 Access the September

TAKING IT TO THE NET A3 APPLE BTN 5-3 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? Hint: See Note 1 to its financial statements. 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. Page 243

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