Apple's inventory increased from $1 billion on December 29, 1994, to $1.95 billion one year later. In contrast, sales for the fourth quarter in each of these years increased from $2 billion to $2.6 billion. What is the implied annualized inventory turnover for Apple for these years? What different interpretations about future performance could a financial analyst infer from this change? What information could Apple's management provide to investors to clarify the change in inventory turnover? What are the costs and benefits to Apple from disclosing this information? What issues does this change raise for the auditor? What additional tests would you want to conduct as Apple's auditor?