Newport Company Has Sales of $2,025,000 for the Current Year

question 34

Multiple Choice

Newport Company has sales of $2,025,000 for the current year. The book value of its fixed assets at the beginning of the year was $550,000 and at the end of the year was $800,000. The fixed asset turnover ratio for Newport is

• A) 3.0
• B) 3.6
• C) 3.7
• D) 2.5