Aardvaark & Co.has sales of $291,200,cost of goods sold of $163,300,net profit of $11,360,net fixed assets of $154,500,and current assets of $89,500.What is the total asset turnover rate?

Name: Aardvaark & Co.has sales of $291,200,cost of goods sold of $163,300,net profit of $11,360,net fixed assets of $154,500,and current assets of $89,500.What is the total asset turnover rate?
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Question

Quizplus · Accepted Answer

Total asset turnover = $291,200/($154,500 + $89,500) = 1.19