Larry's Lab Has Sales of $35,750, Net Fixed Assets of $14,500

question 117

Multiple Choice

Larry's Lab has sales of $35,750, net fixed assets of $14,500, current assets of $12,300, and cost of goods sold of $30,000. Which of the following is the fixed asset turnover ratio for the business?

• A) 1.18 times
• B) 1.19 times
• C) 2.47 times
• D) 2.91 times

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