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Question
Bountiful Company had sales of $650,000 and cost of merchandise sold of $200,000 during the year. The total assets balance at the beginning of the year was $175,000 and at the end of the year was $167,000. Compute the asset turnover.
a. 3.00
b. 3.80
c. 0.29
d. 0.26
Answer
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