The Apple, Inc. financial statements are taken from the companys 2013 Form 10-K. To access Apples Form 10-K, including notes to the financial statements, follow these link: http://investor.apple.com/secfiling.cfm?filingID=1193125-13-416534&CIK=320193

Answer the following questions. Complete the requirements in millions of dollars, as shown in Apple's annual report. What did Apple report for the amount of inventories in its consolidated balance sheet at September 29, 2012? At September 28, 2013? (Enter your answers in millions. September 28, 2013 September 29, 2012 Inventories million million LINK TO TEXT LINK TO TEXT Compute the dollar amount of change and the percentage change in inventories between 2012 and 2013. Compute inventory as a percentage of current assets at September 28, 2013. (Enter dollar amount in million. Enter all amounts as positive values. Round percentage answers to one decimal place, e.g. 15.2%) Dollar change in inventories between 2012 and 2013 million Percentage change in inventories between 2012 and 2013 Inventory as a percentage change of current assets LINK TO TEXT LINK TO TEXT How does Apple value its inventories? Inventories are valued at of cost or market. LINK TO TEXT LINK TO TEXT Which inventory cost flow method does Apple use? (See Notes to the Financial Statements.) method LINK TO TEXT LINK TO TEXT