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Mehring Company Reported Net Sales of $540000 Net Income of $72000

Question 262

Multiple Choice

Mehring Company reported net sales of $540000 net income of $72000 beginning total assets of $240000 and ending total assets of $360000. What was the company's asset turnover?


A) 2.3 times
B) 0.6 times
C) 1.8 times
D) 1.5 times

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