Chapter 15.III, Problem 20RE

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8th Edition

Robert Brechner + 1 other

ISBN: 9781305585447

Textbook Problem

Heads or Tails Coin Shop had net sales of $1,354,600 last year. If the total assets of the company are $2,329,500. what is the asset turnover ratio?

To determine

**To calculate:** The assets turnover ratio of the heads or tail coin shop which has net sales of

Explanation

**Given Information:**

The heads or tail coin shop has net sales of

**Formula used:**

The formula to compute the asset turnover ratio is,

**Calculation:**

Consider net sales of

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