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Refer to Apple's financial statements in Appendix A to answer the following Requlred: 1. Assume that the amounts reported for inventones and cost of sales
Refer to Apple's financial statements in Appendix A to answer the following Requlred: 1. Assume that the amounts reported for inventones and cost of sales refiect items purchased in a form ready for resale. Compute the net cost of goods purchased for the year ended September 28, 2019. 2. Compute the current ratio and acid-test ratio as of September 28, 2019, and September 29, 2018 3. Does Apple's 2019 current ratio outperform or underperform the (assumed) industry average of 1.5 ? 4. Does Apple's 2019 acid-test ratio outperform or underperform the (assumed) industry average of 1.0? * Answer is not complete. Complete this question by entering vour answers in the tabs below. Compute the current ratio and acid-test ratio as of September 28, 2019, and September 29, 2018. Note: Enter your answers in millions of dollars
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