Access the September 24, 2011, 10-K report for Apple, Inc. (Ticker AAPL), filed on October 26, 2011,

Question:

Access the September 24, 2011, 10-K report for Apple, Inc. (Ticker AAPL), filed on October 26, 2011, from the EDGAR filings at www.SEC.gov.

Required 1. What products are manufactured by Apple?

2. What inventory method does Apple use? {Hint: See the Note 1 to its financial statements.)

3. Compute its gross margin and gross margin ratio for the 2011 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, 2011. Comment on your computations—assume an industry average of 40 for inventory turnover and 9 for days’ sales in inventory.

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