4/292019 MHE Reader Beyond the Numbers Reporting in Action A1 0 BTN 4-1 Refer to Apple's financial statements in Appendix A to answer the following. Required 1. Assume that the amounts reported for inventories and cost of sales reflect items purchased in APPLE a form ready for resale. Compute the net cost of goods purchased for the year ended September 26, 2015. 2. Compute the current ratio and acid-test ratio as of September 26, 2015, and September 27, 2014. Interpret and comment on the ratio results. How does Apple compare to the industry average of 1.5 for the current ratio and 1.25 for the acid-test ratio? Fast Forward 3. Access Apple's financial statements (Form 10-K) for fiscal years ending after September 26, 2015, from its website (Apple.com or the SEC's EDGAR database (SEC.gov) 4/292019 MHE Reader Beyond the Numbers Reporting in Action A1 0 BTN 4-1 Refer to Apple's financial statements in Appendix A to answer the following. Required 1. Assume that the amounts reported for inventories and cost of sales reflect items purchased in APPLE a form ready for resale. Compute the net cost of goods purchased for the year ended September 26, 2015. 2. Compute the current ratio and acid-test ratio as of September 26, 2015, and September 27, 2014. Interpret and comment on the ratio results. How does Apple compare to the industry average of 1.5 for the current ratio and 1.25 for the acid-test ratio? Fast Forward 3. Access Apple's financial statements (Form 10-K) for fiscal years ending after September 26, 2015, from its website (Apple.com or the SEC's EDGAR database (SEC.gov)