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Select financial statement data for two recent years for Davenport Company are as follows: Sales Fixed assets: Beginning of year End of year 20Y5
Select financial statement data for two recent years for Davenport Company are as follows: Sales Fixed assets: Beginning of year End of year 20Y5 $1,837,500 20Y4 $1,197,000 710,000 760,000 620,000 710,000 a. Determine the fixed asset turnover ratio for 20Y4 and 20Y5. Round your answers to one decimal place. Fixed Asset Turnover Ratio 20Y5 20Y4 b. Does the change in the fixed asset turnover ratio from 20Y4 to 20Y5 indicate a favorable or an unfavorable change?
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