Outdoor Play Inc. reported the following facts in its 2023 annual report: net sales of $9,683 million

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Outdoor Play Inc. reported the following facts in its 2023 annual report: net sales of $9,683 million for 2022 and $9,050 million for 2023; total end-of-year assets of $10,690 million for 2022 and $13,435 million for 2023. Calculate the total asset turnover for 2023 and identify whether it compares favourably or unfavourably with the industry average in Exhibit 17.11.

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Fundamental Accounting Principles Volume 2

ISBN: 9781260881332

17th Canadian Edition

Authors: Kermit D. Larson, Heidi Dieckmann, John Harris

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