Cowers reported net sales of $2,463 million and average total assets of $1,546 million. Its total asset turnover equals 1.59.
$2,463/$1,546 = 1.59

Name: Cowers reported net sales of $2,463 million and average total assets of $1,546 million. Its total asset turnover equals 1.59. $2,463/$1,546 = 1.59
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Question

Quizplus · Accepted Answer

The calculation is correct and the result is 1.59, which means that Cowers generated $1.59 in net sales for every dollar of average total assets invested in the business.

Cowers Reported Net Sales of $2,463 Million and Average Total