A company reports the following:Sales$8,782,430Average total assets (excluding long-term investments)1,111,700Determine the asset turnover ratio. Round your answer to one decimal place.fill in the blank 1

Accounting ratio: It is a number expressed in terms of another to establish relationship among…

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A company reports the following: Sales $8,782,430 Average total assets (excluding long-term investments) 1,111,700

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 19P

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Question

A company reports the following:

Sales	$8,782,430
Average total assets (excluding long-term investments)	1,111,700

Determine the asset turnover ratio. Round your answer to one decimal place.
fill in the blank 1

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