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The balance sheet of Longbottom Corporation report net fixed assets of $356,000 at the end of 2021. The fixed-asset turnover ratio for 2021 was 3.0,
The balance sheet of Longbottom Corporation report net fixed assets of $356,000 at the end of 2021. The fixed-asset turnover ratio for 2021 was 3.0, and sales for the year totaled $1,410,000. What were net fixed assets at the end of 2020? Multiple Choice $698,000. $584,000. None of these answer choices are correct. $470,000
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