Asset turnover A company reports the following: Sales $1,102,500 Average total assets (excluding long-term investments) 787,500 Determine the asset turnover ratio. If required, round your answer to one decimal place.

Asset turnover A company reports the following: Sales $1,102,500 Average total assets (excluding long-term investments) 787,500 Determine the asset turnover ratio. If required, round your answer to one decimal place.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Asset turnover
A company reports the following:
Sales
$1,102,500
Average total assets (excluding long-term investments)
787,500
Determine the asset turnover ratio. If required, round your answer to one decimal place.
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