Dandy Hardware Stores reported the following asset values in 2010 and 2011: In addition, Dandy Hardware had
Question:
In addition, Dandy Hardware had sales of $3,500,000 in 2011. Cost of goods sold for the year was $2,200,000. Compute Dandy Hardwares fixed asset turnover ratio for2011.
Asset TurnoverAsset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.
Transcribed Image Text:
2011 2010 $ 40.000 380,000 590,000 150,000 500.000 260,000 Cash Inventory Land Buildings Equipment $25.000 330,000 410,000 25,000 450,000 250.000
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Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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