k SUpp Logistics & Supply Chain Sys Section 01 Spring Semester 2018 AW ERSITY te

Question

k SUpp Logistics & Supply Chain Sys Section 01 Spring Semester 2018 AW ERSITY tent , Discussions Asignments P Quizzes Other Quiz 1- Quiz Time Left: 0:19:14 Desmond Vail: Attempt 1 Question 7 (7 points) See the balance sheet below. Based on those values, what is the company's asset turnover ratio? $ (in thousands) 393 399 Gross Income Total sales Total credit sales 215 Net income Cost of goods sold 189 Total assets Average inventory 57 Average receivables48 71 156 O 4.18 O 1.70 O 2.56 0 none of the above

Explanation / Answer

Asset Turnover Ratio

= Net sales/ Average total assets

= 399/156

= 2.56

Option C

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