Final answer:
Apple's planned investment was 2.5 million iPhones in both scenarios. If Apple sold 2.23 million iPhones, the actual investment remained at 2.5 million iPhones. When 2.63 million iPhones were sold, the actual investment was just sales, amounting to 2.63 million iPhones, due to inventory depletion.
Step-by-step explanation:
Apple's planned investment is represented by the number of iPhones it intends to produce and add to its inventory. Initially, the planned investment is 2.5 million iPhones produced with the expectation to sell 2.43 million and add 70,000 to inventories.
a. If Apple sells 2.23 million iPhones instead, the actual investment would be the sold iPhones plus the remaining inventory, which is now larger than planned due to fewer sales. So, the actual investment would be 2.23 million sold plus the revised inventory. Calculating the new inventory, we have 2.5 million (produced) - 2.23 million (sold) = 0.27 million added to inventory. Thus, Apple's actual investment would be 2.23 million + 0.27 million = 2.5 million iPhones.
b. If Apple sells 2.63 million iPhones, the actual investment includes these sales and a potentially reduced inventory. New inventory would be 2.5 million (produced) - 2.63 million (sold) = -0.13 million (a deficit). This means Apple had to use additional 0.13 million iPhones from previous inventories or receive them through other means, thus the actual investment in terms of additions to inventory is zero. The total actual investment comprises only the sold iPhones, which is 2.63 million.
The planned investment for both scenarios remains the same at 2.5 million iPhones.