Intel Corporation reports the following financial statement amounts in its 10K reports.

		Cost of		Plant, Property and
$ millions	Sales	Goods Sold	Inventories	Equipment, Net
2016	$97,989	$25,266	$5,553	$36,171
2017	103,556	25,880	6,983	41,109
2018	116,899	30,073	7,253	48,976

a. Compute the inventory and PPE turnover ratios for both 2017 and 2018. Note: Do not round until your final answer. Note: Round your final answers to one decimal place (for example, enter 6.8 for 6.77555).

	2017	2018
Inventory turnover	Answer	Answer
PPE turnover	Answer	Answer

b. What changes are evident in the turnover rates of Intel for these years? Inventory turnover

a. Turnover increased notably

b. Turnover decreased notably

c. Ratio remained relatively constant

PPE turnover

a.Turnover increased notably

b.Turnover decreased notably

c.Ratio remained relatively constant