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For Apples current annual report, assume it reports the following for raw materials. ...

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Accounting

For Apples current annual report, assume it reports the following for raw materials.

$ millions Current Year 1 Year Ago 2 Years Ago
Raw materials inventory, ending $ 2,100 $ 1,900 $ 2,500
Raw materials used 72,000 74,800 79,200

Required: 1. Compute Apples raw materials inventory turnover ratio for the most recent two years. 2. Is the current year change in Apple's raw materials inventory turnover ratio favorable or unfavorable?

Compute Apples raw materials inventory turnover ratio for the most recent two years.

Apples raw materials inventory turnover ratio:
Current year times per year.
1 Year Ago times per year.

Is the current year change in Apple's raw materials inventory turnover ratio favorable or unfavorable?

Apple's raw materials inventory turnover ratio

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