Question
Selected data from recent financial statements of The Procter & Gamble Company, CVS Health Corporation, and Valero Energy Corporation are presented below: ($ millions) Procter
Selected data from recent financial statements of The Procter & Gamble Company, CVS Health Corporation, and Valero Energy Corporation are presented below:
| ($ millions) | Procter & Gamble | CVS Health | Valero Energy |
|---|---|---|---|
| Sales | $66,832 | $184,765 | $88,407 |
| Cost of sales | 33,449 | 156,208 | 81,926 |
| Average receivables | 4,640 | 12,673 | 6,296 |
| Average inventories | 4,681 | 15,028 | 6,047 |
| Average PP&E | 20,247 | 10,234 | 26,976 |
| Average total assets | 66,119 | 94,797 | 48,166 |
a. Compute the asset turnover (AT) ratio for each company. (Round your answers to one decimal place.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Cost Accounting
Authors: Edward B. Deakin, Michael Maher
3rd Edition
0256069190, 978-0256069198
