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Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net) Inventory Plant assets (net) Total assets Liabilities Shareholders' equity Net sales Cost
Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net) Inventory Plant assets (net) Total assets Liabilities Shareholders' equity Net sales Cost of goods sold Net income Dec 31, 2020 $ 31,eee 49,888 69,000 211,000 488,888 146,000 262,888 341, eee 381,080 21,280 Dec 31, 2021 $ 33,500 55, eee 73,000 220, see 397, eee 146, eee 251,000 403, eee 355,00 27,000 Required: Compute the asset turnover ratio for 2021. Asset turnover ratio
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