Final answer:
1. The net cost of goods purchased for the year ended September 28, 2019, is $165,414 million.
2. The current ratio and acid-test ratio as of September 28, 2019, are 1.54 and 0.91 respectively.
3. Apple's 2019 current ratio outperforms the assumed industry average of 1.5, while the acid-test ratio underperforms the assumed industry average of 1.0.
Step-by-step explanation:
1. To compute the net cost of goods purchased for the year ended September 28, 2019, we need to calculate the difference between the inventories at the beginning and end of the year. Looking at Apple's financial statements, the inventories at the beginning of the year were $3,956 million, and at the end of the year were $4,106 million. Therefore, the net increase in inventories is $4,106 million - $3,956 million = $150 million. The cost of sales for the year was $165,264 million. So, the net cost of goods purchased is $165,264 million + $150 million = $165,414 million.
2. The current ratio is calculated by dividing current assets by current liabilities. For September 28, 2019, Apple's current assets were $162,819 million and current liabilities were $105,718 million. So, the current ratio is $162,819 million ÷ $105,718 million = 1.54.
The acid-test ratio, also known as the quick ratio, takes into account only the most liquid current assets. It is calculated by dividing the sum of cash, cash equivalents, short-term investments, and accounts receivable by current liabilities. For September 28, 2019, Apple's quick assets were $95,989 million and current liabilities were $105,718 million. So, the acid-test ratio is $95,989 million ÷ $105,718 million = 0.91.
3. Apple's 2019 current ratio of 1.54 is greater than the assumed industry average of 1.5, indicating that Apple's liquidity position is better than the industry average.
4. Apple's 2019 acid-test ratio of 0.91 is less than the assumed industry average of 1.0, indicating that Apple's liquidity position is worse than the industry average.