Question: Taking It to the Net A3 T BTN 5-3 Access the September 24, 2016, 10-K report for Apple, Inc. (ticker: AAPL), filed on October 26,

Taking It to the Net A3 T BTN 5-3 Access the

Taking It to the Net A3 T BTN 5-3 Access the September 24, 2016, 10-K report for Apple, Inc. (ticker: AAPL), filed on October 26, 2016, from the EDGAR filings at SEC.gov Required 1. What products are manufactured by Apple? 2. What inventory method does Apple use? (Hint: See the Note I to its financial statements.) APPLE 3. Compute its gross margin and gross margin ratio for the 2016 fiscal year. Comment on your computations -assume an industry average of 40% for the gross margin ratio. 4. Compute its inventory turnover and days' sales in inventory for the year ended September 24, 2016. Comment on your computations-assume an industry average of 15 for inventory turnover and 9 for days' sales in inventory

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