Making Business Decisions: Analyzing Apple’s Inventory Turnover RatioYou are considering an investment in the common stock of Apple Inc. The following information is from the financial statements included in Form 10-K for fiscal years 2015 and 2014 (in millions of dollars):Cost of sales for the year ended: September 26, 2015$140,089September 27, 2014112,258Inventories: September 26, 20152,349September 27, 20142,111September 29, 20131,764 The following information is from the financial statements included in Form 10-K for fiscal years 2015 and 2014 for Hewlett-Packard Company (in millions of dollars):Cost of sales for the year ended: October 31, 2015$53,081October 31, 201456,469Inventory: October 31, 20156,485October 31, 20146,415October 31, 20136,046 Use 360 days a year.

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Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter5: Inventories And Cost Of Goods Sold

Section: Chapter Questions

Problem 5.5P

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Making Business Decisions: Analyzing Apple’s Inventory Turnover Ratio

You are considering an investment in the common stock of Apple Inc. The following information is from the financial statements included in Form 10-K for fiscal years 2015 and 2014 (in millions of dollars):

Cost of sales for the year ended:
September 26, 2015	$140,089
September 27, 2014	112,258
Inventories:
September 26, 2015	2,349
September 27, 2014	2,111
September 29, 2013	1,764

The following information is from the financial statements included in Form 10-K for fiscal years 2015 and 2014 for Hewlett-Packard Company (in millions of dollars):

Cost of sales for the year ended:
October 31, 2015	$53,081
October 31, 2014	56,469
Inventory:
October 31, 2015	6,485
October 31, 2014	6,415
October 31, 2013	6,046

Use 360 days a year.

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