Chapter 22, Problem 7E

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Nevaeh Manufacturing company has a beginning finished goods inventory of $16,200, cost of goods manufactured of $45,800, and an ending finished goods inventory of $18,500. The cost of goods sold for this company is: A. $37,300 B. $45,100 C. $43,500 D. $47,500 Zenith Enterprises has sales of $350,000, cost of goods sold of $190,000, net profit of $15,600, net fixed assets of $170,000, and current assets of $95,000. What is the total asset turnover rate?

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