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FCC Company had average total assets of $780,000. Its gross sales were $1,132,000 and its net sales were 855,000. The company's total asset turnover equals (round your answer to the nearest 2 decimal places, for example, 3.739 would be 3.74):

FCC Company had average total assets of $780,000. Its gross sales were $1,132,000 and its net sales were 855,000. The company's total asset turnover equals (round your answer to the nearest 2 decimal places, for example, 3.739 would be 3.74):

FINANCIAL ACCOUNTING
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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FCC Company had average total assets of $780,000. Its gross sales were $1,132,000 and its net sales were 855,000. The company's total asset turnover equals (round your answer to the nearest 2 decimal places, for example, 3.739 would be 3.74):
Transcribed Image Text:FCC Company had average total assets of $780,000. Its gross sales were $1,132,000 and its net sales were 855,000. The company's total asset turnover equals (round your answer to the nearest 2 decimal places, for example, 3.739 would be 3.74):
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