E6-32. Computing and Evaluating Inventory and PPE Turnovers Intel Corporation reports the following financial statement amounts in its 10-K reports. $ millions Sales Cost of Goods Sold Inventories Plant, Property and Equipment, Net

2016 . . . . . . 59,387, 15,313, 5,553, 36,171

2017 . . . . . . 62,761, 15,685, 6,983, 41,109

2018 . . . . . .70,848, 18,226, 7,253, 48,976

a. Compute the inventory and PPE turnover ratios for both 2017 and 2018.

b. What changes are evident in the turnover rates of Intel for these years? Discuss ways in which a company such as Intel can improve inventory and PPE turnover ratios.