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22.01.2022 06:19
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Flask Company reports net sales of $3,010 million; cost of goods sold of $2,650
Flask Company reports net sales of $3,010 million; cost of goods sold of $2,650 million; net income of $530 million; and average total assets of $2,510 million. Compute its total asset turnover.
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ayoismeisalex
4,8(59 marks)
Total assets turnover = 1.2 times
Explanation:
Total assets turnover tells the efficiency of a firm's assets in generating revenue.
The formula for total assets turnover is net sales over average total assets.
Total assets turnover = Sales / average total assets
Total assets turnover = 3010 / 2510 = 1.199 or 1.2 times
XOsam
5,0(88 marks)
subject?
Explanation:
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