Asset Turnover Kroger Co., a national supermarket chain, reported the following data (in Millions) in its financial statements for a recent year: Total revenue $121,162 Total assets at end of year 38,118 Total assets at beginning of year 37,197 a. Compute the asset turnover. Round to two decimal places. 3.25 X b. Tiffany & Co. is a large North American retailer of jewelry with an asset turnover of 0.82. Which of the following is NOT true? Tiffany sells jewelry using a much shorter operating cycle than Kroger uses selling groceries. Feedback Check My Work Average assets= (Beginning Total Assets + Ending Total Assets) + 2, Divide Sales by Average Assets to obtain the ratio