Final answer:
Without actual data from Apple's financial statements in Appendix A, we cannot provide specific figures. However, to answer similar questions, one would extract inventory values and total assets from the balance sheet to calculate the percentage of inventories to total assets, and use inventory values along with the cost of goods sold to calculate inventory turnover and days' sales in inventory.
Step-by-step explanation:
To answer these questions on Apple's financial statements, we would need access to Apple's actual financial statements from Appendix A, specifically the balance sheets for the fiscal years ended September 28, 2019, and September 29, 2018. However, I can guide you on how to approach this question with hypothetical data:
Locate the line item for inventories listed under current assets in the balance sheet.
To find the percentage of inventories to total assets, divide the inventory amount by the total assets and multiply by 100.
Apple might prefer inventories to be a lower percentage of total assets to minimize holding costs and free up capital for other investments.
Calculate the inventory turnover by dividing the cost of goods sold (found on the income statement) by the average inventory. For the days' sales in inventory, divide 365 days by the inventory turnover ratio.
For example:
If inventories on September 28, 2019, were $4 billion and total assets were $200 billion, the percentage would be (4/200)×100 = 2%.
If the cost of goods sold was $140 billion and the average inventory was $4 billion, the inventory turnover ratio would be 140/4 = 35 times.
For the days' sales in inventory: 365 / 35 = approximately 10.4 days.