Determine the inventory turnover for Apple

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Reference no: EM132681318

Problem - Inventory turnover - The following data were taken from recent annual reports of Apple Inc., a manufacturer of personal computers and related products, and American Greetings Corporation, a manufacturer and distributor of greeting cards and related products:

 

Apple

America Greetings

Cost of goods sold

$23,397,000,000

$809,956,000

Inventory, end of year

455,000,000

203,873,000

Inventory beginning of the year

509,000,000

216,671,000

Required -

a. Determine the inventory turnover for Apple and American Greetings. Round to one decimal place.

b. Would you expect American Greetings' inventory turnover to be higher or lower than Apple's? Why?

Reference no: EM132681318

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