Cost of sales: 20.6 billion
Inventories : 1.1 billion
Cost of sales is what they spend to buy the stuff they sell.
20.6/1.1 is about 18, so they have to sell their inventory 18 times in a quarter. A quarter has about 90 days; 90/18 = 5.
It is possible that they force their inventory down a bit at end of quarters to make the figures look better, but I doubt Apple in its current form will find that worthwhile.
Comments
I am not an accountant, but i think this calculation is correct. http://files.shareholder.com/downloads/AAPL/1903881931x0x563...:
Cost of sales is what they spend to buy the stuff they sell.20.6/1.1 is about 18, so they have to sell their inventory 18 times in a quarter. A quarter has about 90 days; 90/18 = 5.
It is possible that they force their inventory down a bit at end of quarters to make the figures look better, but I doubt Apple in its current form will find that worthwhile.