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What is the company asset turnover ratio

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Problem 1: The Miller Company reported gross sales of $840,000, sales returns and allowances of $6,100 and sales discounts of $6,100. The company has average total assets of $490,000, of which $245,000 is property, plant, and equipment. What is the company's asset turnover ratio?

A. 1.71 times
B. 1.69 times
C. 0.59 times
D. 1.74 times

Reference no: EM132954332

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