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igor_vitrenko [27]
3 years ago
9

Compute the asset turnover ratio using the following information: net sales is $100,000 for the year, last year's assets in plac

e were $900,000 and this year's assets in place are $1,100,000. Receivables for both years are $50,000.
Business
1 answer:
12345 [234]3 years ago
6 0

Answer: 0.097

Explanation:

Given that,

Net sales = $100,000 for the year

Last year's assets = $900,000

Current year's assets = $1,100,000

Receivables for both years = $50,000

Total assets = Last year's assets + Current year's assets + Receivables for both years

                    = $900,000 + $1,100,000 + $50,000

                    = $2,050,000

Average of total assets = \frac{2,050,000}{2}

                                       = $1,025,000

Asset turnover ratio = \frac{Net\ sales}{Average\ total\ assets}

                                   = \frac{100,000}{1,025,000}

                                   = 0.097

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Explanation:

From the question we are informed about George and Arthurine Renfro decided who decided to start a family business in 1990 and market chowchow, a southern regional food, they had to determine how they would price the chowchow by examining the demand for the product (would people rather eat home-made or store-bought), the cost of getting the jars for bottling the chowchow, and how much it would cost to distribute the product to area stores. In other words, in this case, the Renfros had to begin the development of their pricing strategy by identifying pricing constraints. .

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hope it helps you

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