Compute the asset turnover ratio

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Reference no: EM131869749

The financial data of a firm during the past year is as follows: (all values are in millions of dollars)

Gross income: 18.7

Total sales: 12.7

Total credit sales: 8.1

Net income: 5.5

Cost of goods sold: 8.1

Total assets: 15

Average inventory: 1.1

Average receivables: 2.7

Compute the asset turnover ratio.

(Provide 2 significant digits)

Reference no: EM131869749

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