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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