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Determine the fixed asset turnover ratio

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Reference no: EM133140414

Question - Fixed asset turnover ratio - Select financial statement data for two recent years for Davenport Company are as follows:

 

20Y5

20Y4

Sales

$1,668,000

$1,125,000

Fixed assets:

Beginning of year

670,000

580,000

End of year

720,000

670,000

Required -

a. Determine the fixed asset turnover ratio for 20Y4 and 20Y5. Round to one decimal place.

b. Does the change in the fixed asset turnover ratio from 20Y4 to 20Y5 indicate a favorable or an unfavorable change?

Reference no: EM133140414

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