Net sales 3120 million,cost of goods sold 2950 million Fleming Corporation reports the following financialdata:•Net Sales = $3,120 millionCost of Goods Sold = $2,950 million. Net Income = $520 millionAverage Total Assets = $2,800 million.Compute its Total Asset Turnover.

Explanation of Total Asset Turnover:Total Asset Turnover is a financial ratio that measures how…

Answered: Fleming Corporation reports the…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 19P

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6
General Accounting
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Assets turnover ratio?
JPJ Corp has sales of $1.33 million, accounts receivable of $52,000, total assets of $5.05 million (of which $2.88 million are fixed assets), inventory of $153000, and cost of goods sold of $601000. What is JPJ's accounts receivable days? Fixed asset turnover? Total asset turnover? Inventory turnover? **round to two decimal places**

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Fleming Corporation reports the following financial data: • Net Sales = $3,120 million Cost of Goods Sold = $2,950 million . Net Income = $520 million Average Total Assets = $2,800 million. Compute its Total Asset Turnover.