Refer to Apple$$s financial statements in Appendix A to answer the following.

Required:

Assume that the amounts reported for inventories and cost of sales reflect items purchased in a form ready for resale. Compute the net cost of goods purchased for the year ended September $28,2019.$

Compute the current ratio and acid$-$test ratio as of September $28,2019,$ and September $29,2018.$

Does Apple$$s $2019$ current ratio outperform or underperform the $($assumed$)$ industry average of $1\mathrm{.}5?$

Does Apple$$s $2019$ acid$-$test ratio outperform or underperform the $($assumed$)$ industry average of $1\mathrm{.}0?$