none Garcia Enterprises had total sales of $150,000, year-endaccounts receivable of $18,000, inventories of $30,000, and totalassets of $90,000. It uses a 365-day year for ratio calculations.What was Garcia Enterprises' total assets turnover ratio?a. 1.50b. 1.67c. 1.25d. 1.80e. 1.33

Step 1: Definition of Total Assets Turnover RatioThe total assets turnover ratio measures how…

Answered: Garcia Enterprises had total sales of…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 6MCQ

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Garcia Enterprises had total sales of $150,000, year-end accounts receivable of $18,000, inventories of $30,000, and total assets of $90,000. It uses a 365-day year for ratio calculations. What was Garcia Enterprises' total assets turnover ratio? a. 1.50 b. 1.67 c. 1.25 d. 1.80 e. 1.33