1. Apple Watch retailed for $349 in 2015, and the firm was predicted to sell millions of units. The firm's total cost in terms of materials and labor for the Apple Watch was no more than $84. Thus, Apple's profit for each watch sold is an estimated $265, with a percent markup of _____ percent.
1. 215
2. 265
3. 315
4. 365
2. Which of the following ratios best expresses inventory turnover?
A. Inventory/Working capital
B. Annul profits/Inventory
C. Inventory/Per unit cost of production
D. Cost of goods sold/Inventory