The financial statements of Apple are presented in Appendix D The company 's complete annual report, including the notes to its financial statements, is available at investor apple com Instructions Answer the following questions (Give the amounts in thousands of dollars, as shown in Apple 's annual...

a Inventories September 28 2013 1764 million September 2 ...

The financial statements of Apple are presented in Appendix D. The company's complete annual report, including the

Question:

The of Apple are presented in Appendix D. The company's complete annual report, including the notes to its is available at investor.apple.com.
Instructions
Answer the following questions. (Give the amounts in thousands of dollars, as shown in Apple's annual report.)
(a) What did Apple report for the amount of inventories in its consolidated at September 28, 2013? At September 29, 2012?
(b) Compute the dollar amount of change and the percentage change in inventories between 2012 and 2013. Compute inventory as a percentage of current assets for 2013.
(c) How does Apple value its inventory, and what cost flow assumption does it use?
(d) What is the (product) cost of goods sold reported by Apple for 2013, 2012, and 2011? Compute the ratio of (product) cost of goods sold to net (product) sales in 2013.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...