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Comparative figures for Apple and Google follow. $ millions Apple Google Current Year One Year Prior Two Years Prior Current Year One Year Prior Two

Comparative figures for Apple and Google follow.

$ millions Apple Google
Current Year One Year Prior Two Years Prior Current Year One Year Prior Two Years Prior
Inventory $ 4,106 $ 3,956 $ 4,855 $ 999 $ 1,107 $ 749
Cost of goods sold 161,782 163,756 141,048 71,896 59,549 45,583

Required: 1. Compute inventory turnover for each company for the most recent two years shown. 2. Compute days sales in inventory for each company for the three years shown. 3. Did the current year inventory turnover underperform or outperform the industry's average turnover of 15 in the case of (a) Apple and (b) Google?

image text in transcribedimage text in transcribedimage text in transcribed \begin{tabular}{|c|c|c|} \hline & \multicolumn{2}{|c|}{ Inventory Turnover } \\ \hline & Current Year & One Year Prior \\ \hline Apple & times & times \\ \hline Google & times & times \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multirow[b]{3}{*}{ Apple } & \multicolumn{3}{|c|}{ Days' Sales in Inventory } \\ \hline & Year & One Year Prior & Two Years Prior \\ \hline & days & days & days \\ \hline Google & days & days & days \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline & \multicolumn{1}{|c|}{ Inventory Turnover } \\ \hline (a) Apple & \\ \hline (b) Google & \\ \hline \end{tabular}

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