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Dundee Co. reported the following for the current year: Net sales $ 72,100 Cost of goods sold $ 50,000 Beginning balance of total assets $
Dundee Co. reported the following for the current year:
Net sales | $ | 72,100 | |
Cost of goods sold | $ | 50,000 | |
Beginning balance of total assets | $ | 118,000 | |
Ending balance of total assets | $ | 88,000 | |
Compute total asset turnover.
Total Asset Turnover \begin{tabular}{|l|l|l|l|l|l|} \hline Choose Numerator: & 1 & Choose Denominator: & = & Total Asset Turnover \\ \hline & 1 & & = & Total asset turnover \\ \hline & 1 & & = & times \end{tabular}Step by Step Solution
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