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Assume the following data were included in a recent Apple Inc. annual report (in millions): 2017 2018 2019 2020 Net sales $ 15,131 $ 20,515
Assume the following data were included in a recent Apple Inc. annual report (in millions):
2017 | 2018 | 2019 | 2020 | |||||||||
Net sales | $ | 15,131 | $ | 20,515 | $ | 25,206 | $ | 33,679 | ||||
Net property, plant, and equipment | 697 | 1,161 | 1,712 | 2,335 | ||||||||
Required: 1. Compute Apples fixed asset turnover ratio for 2018, 2019, and 2020. (Round your answers to 1 decimal place.)
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