In a recent annual report, Target reported beginning total assets of $44.1 billion, ending total assets of $44.5 billion, and net sales of $63.4 billion. Compute Target's asset turnover ratio. (Round answer to 2 decimal places, e.g. 5.60.) Target's asset turnover ratio times

In a recent annual report, Target reported beginning total assets of $44.1 billion, ending total assets of $44.5 billion, and net sales of $63.4 billion. Compute Target's asset turnover ratio. (Round answer to 2 decimal places, e.g. 5.60.) Target's asset turnover ratio times

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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Question

100%

In a recent annual report, Target reported beginning total assets of $44.1 billion, ending total assets of $44.5 billion, and net sales of
$63.4 billion.
Compute Target's asset turnover ratio. (Round answer to 2 decimal places, e.g. 5.60.)
Target's asset turnover ratio
times

Expert Solution

Step 1

Solution..

Total assets at the beginning = $44.1 billions

Total assets at the end = $44.5 billions

Sales = $63.40 Billions

Assets turnover = ?

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