Question:

Using Apple's 2018 annual report, find the firm's inventory (over sales) and CCC. Redo it when manufacturing purchase obligations (commitments) due in less than one year are included. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) September 29, 2018 59,531 Years ended September 30, 2017 48,351 September 24, 2016 45,687 $ Net income Other comprehensive income/(loss): Change in foreign currency translation, net of tax effects of $(1), $(77) and $8, respectively (525) 224 75 523 1,315 7 Change in unrealized gains/losses on derivative instruments: Change in fair value of derivatives, net of tax benefit/(expense) of $(149), $(478) and $(7), respectively Adjustment for net (gainsYlosses realized and included in net income, net of tax expense/(benefit) of $(104), $475 and $131, respectively Total change in unrealized gains/losses on derivative instruments, net of tax 382 (1,477) (162) (741) (734) 905 (3,407) (782) 1,582 Change in unrealized gains/losses on marketable securities: Change in fair value of marketable securities, net of tax benefit/(expense) of $1,156, $425 and $(863), respectively Adjustment for net (gainsy/losses realized and included in net income, net of tax expense/(benefit) of $21, $35 and $(31), respectively Total change in unrealized gains/losses on marketable securities, net of tax 1 56 (64) (846) (3,406) 1,638 Total other comprehensive income/loss) Total comprehensive income (3,026) 56,505 (784) 47,567 979 46,666 $ $ Apple Inc. CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands and par value) September 29, 2018 September 30, 2017 ASSETS: S $ Current assets: Cash and cash equivalents Marketable securities Accounts receivable, net Inventories Vendor non-trade receivables Other current assets Total current assets 25,913 40,388 23.186 3,956 25.809 12.087 131,339 20,289 53,892 17,874 4,855 17,799 13,936 128,645 Non-current assets: Marketable securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets 170,799 41,304 22,283 234.386 194,714 33,783 18,177 246,674 375,319 $ 365,725 $ LIABILITIES AND SHAREHOLDERS' EQUITY: $ $ Current liabilities: Accounts payable Other current liabilities Deferred revenue 55,888 32,687 7,543 44,242 30,551 7,548