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Hitman42 [59]
2 years ago
5

A company reports the following: Sales $6,750,000 Average total assets (excluding long-term investments) 2,500,000 Determine the

asset turnover ratio. If required, round your answer to one decimal place. fill in the blank 1
Business
1 answer:
Vinvika [58]2 years ago
6 0

Answer:

2.7

Explanation:

Calculation to Determine the asset turnover ratio

Using this formula

Asset Turnover = Sales/Average Total Assets

Let plug in the morning

Asset Turnover =$6,750,000/2,500,000

Asset Turnover =2.7

Therefore the asset turnover ratio is 2.7

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