Determine the inventory turnover for Apple and American Greetings. Round to one decimal place.
Cost of goods sold:
Apple:$23,397,000,000
American Greetings:809,956,000
Inventory, end of year:
Apple:455,000,000
American Greetings:203,873,000
Inventory, beginning of year:
Apple:509,000,000
American Greetings:216,671,000
a. Determine the inventory turnover for Apple and American Greetings. Round to one decimal place.
b. Would you expect American Greetings' inventory turnover to be higher or lower than Apple's?