The following data (in millions) were adapted from recent financial statements of Apple Inc (AAPL). 1. Compute
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The following data (in millions) were adapted from recent financial statements of Apple Inc (AAPL).
1. Compute the accounts receivable turnover for Years 1 and 2. Round to one decimal place.
2. Compute days' sales in receivables for Years 1 and 2. Round to the nearest day.
3. Compute the inventory turnover for Years 1 and 2. Round to one decimal place.
4. Compute days' sales in inventory for Years 1 and 2. Round to nearest day.
5. Compute the return on sales for Years 1 and 2. Round to one decimal place.
6. Comment on Apple's operations based upon the results in parts (1), (2), (3), (4), and (5).
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...
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