Refer to Apple’s financial statements in Appendix A to answer the


Question Description:

25

the following: Assume that the amounts reported for inventories and cost of sales reflect items purchased in a form ready for resale. Compute the net cost of goods purchased for the year ended September 28, 2013. Compute the current ration and acid-test ratio as of September 28, 2013, and September 29, 2012. Interpret and comment on the ratio results. How does Apple compare to the industry average of 1.5 for the current ratio and 1.25 fo rthe acid-test ratio? Acces Apple’s financial statements for fiscal years ending after September 28, 2013, from its website . Recompute and interpret the current ratio and acid-test ratio for this current fiscal year. erikgisel
posted a question ยท Sep 26, 2015 at 12:00am

Answer

25