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Find what effect does the cost accounting policy for

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Reference no: EM132640744

Apple reports in notes to its financial statements that, in addition to its products sold, it includes the following costs (among others) in cost of sales: customer shipping and handling expenses and warranty expenses.

Question 1: Why do you believe Apple includes these costs in the costs of sales?

Question 2: What effect does this cost accounting policy for its cost of sales have on Apple's financial statements and any analysis of those statements?

Question 3: Access Apple's financial statements for the years after September 26, 2015, from its website (Apple.com) or the SEC's EDGAR website (SEC.gov).

Question 4: Review its footnote relating to Summary of Significant Accounting Policies. Has Apple changed its policy with respect to what costs are included in the cost of sales? Why?

Reference no: EM132640744

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