Use Apples financial statements in Appendix A to answer the following. Required 1. What amount of inventories
Question:
Use Apple’s financial statements in Appendix A to answer the following.
Required
1. What amount of inventories did Apple report as a current asset
(a) on September 28, 2019?
(b) On September 29, 2018?
2. Inventories make up what percent of total assets
(a) On September 28, 2019?
(b) On September 29, 2018?
3. Assuming Apple has enough inventory to meet demand, does Apple prefer inventory to be a lower or higher percentage of total assets?
4. Compute
(a) Inventory turnover for fiscal year ended September 28, 2019,
(b) Days’ sales in inventory as of September 28, 2019.
Step by Step Answer:
1 a 4106 b 3956 2 a 4106 338516 00121or 121 b 3956 365725 00108 or 108 ...View the full answer
Related Video
Inventory turnover is a key metric that helps businesses evaluate the efficiency of their operations. A high turnover ratio is generally considered positive, indicating that the company is effectively selling its inventory and making efficient use of its resources. On the other hand, a low turnover ratio may indicate issues such as overstocking or slow sales and may require further examination to identify and address the underlying causes. Businesses use this ratio to make decisions about inventory levels, production schedules, and pricing strategies. It also helps businesses to identify areas where they may need to make improvements, such as reducing lead times for production or optimizing sales and marketing efforts. Additionally, inventory turnover is used by investors and analysts as a key performance indicator to evaluate the financial health and growth potential of a company.
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