Apple Inc designs manufactures and markets personal

computers and related

Apple Inc designs manufactures and markets personal computers and related

Apple Inc. designs, manufactures, and markets personal computers and related personal
computing and communicating solutions for sale primarily to education, creative, consumer, and
business customers. Substantially all of the company's sales over the last five years are from
sales of its Macs, iPods, iPads, and related software and peripherals. For two recent fiscal
years, Apple reported the following (in millions):
________________________________ Year 2 ____________ Year 1
Sales ......................................... $233,715 .............. $182,795
Accounts receivable at end of year ..... 35,889 ................... 31,537
Assume that the accounts receivable (in millions) were $24,094 at the beginning of fiscal Year
1.
1. Compute the accounts receivable turnover for Year 2 and Year 1. Round to two decimal
places.
2. Compute the days' sales in receivables at the end of Year 2 and Year 1. Use 365 days and
round to one decimal place.
3. What conclusions can be drawn from (1) and (2) regarding Apple's efficiency in collecting
receivables?

Apple Inc designs manufactures and markets personal computers and related
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