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What is the asset turnover ratio for Chambersburg

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Reference no: EM132704890

Question - Use the information presented below for Chambersburg Corp. for 2017 and 2016 to answer the questions that follow. Chambersburg uses the straight-line depreciation method.

 

2017

2016

Property, plant, and equipment

$250,000

$190,000

Accumulated depreciation

100,000

85,000

Depreciation expense

62,500

47,500

Net sales

1,000,000

900,000

Average Total assets

625,000

475,000

Required - What is the asset turnover ratio for Chambersburg for 2017?

Reference no: EM132704890

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