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Comparative figures for Apple and Google follow. $ millions Inventory Cost of sales Current Year $ 4,106 161,782 Apple One Year Prior $ 3,956
Comparative figures for Apple and Google follow. $ millions Inventory Cost of sales Current Year $ 4,106 161,782 Apple One Year Prior $ 3,956 163,756 Two Years Prior Current Year $ 4,855 141,048 $ 999 71,896 Required: Google One Year Prior $ 1,107 Two Years Prior $ 749 59,549 45,583 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?
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