Cambria Company reports net sales of $4,315 million; cost of goods sold of $2,808 million; net income of $283 million; and average total assets of $2,136. Compute its total asset turnover.
A) 1.31.
B) 2.02.
C) 13.
D) 76.
E) 50.

Question

Quizplus · Accepted Answer

Total Asset Turnover = Net Sales / Average Total Assets
Total Asset Turnover = $4,315 million / $2,136 million
Total Asset Turnover = 2.02

Cambria Company Reports Net Sales of $4,315 Million; Cost of Goods