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