Answered: Asset turnover A company reports the…

Asset turnover A company reports the following: Sales $6,480,000 Average total assets 2,400,000 Determine the asset turnover ratio. Round your answer to one decimal place.

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

Asset turnover
A company reports the following:
Sales
$6,480,000
Average total assets
2,400,000
Determine the asset turnover ratio. Round your answer to one decimal place.

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