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Gulf Corp. has the following information: End of Year 1 End of Year 2 Net sales $ 80,000 $100,000 Total assets 600,000 800,000 Accounts receivable
Gulf Corp. has the following information:
End of Year 1
End of Year 2
Net sales
$ 80,000
$100,000
Total assets
600,000
800,000
Accounts receivable
30,000
50,000
What is the asset turnover ratio for year 2 rounded to the nearest 1/1000?
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Auditing Cases An Interactive Learning Approach
Authors: Steven M Glover, Douglas F Prawitt
4th Edition
978-0132423502
