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Mehring Company Reported Net Sales of $270,000, Net Income of $54,000

Question 119

Multiple Choice

Mehring Company reported net sales of $270,000, net income of $54,000, beginning total assets of $240,000, and ending total assets of $360,000. What was the company's asset turnover ratio?


A) 1.13
B) 0.18
C) 0.90
D) 1.11

Correct Answer:

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