If a Firm's Sales Are $2,000,000, Its Cost of Goods

Multiple Choice

If a firm's sales are $2,000,000, its cost of goods sold is $1,500,000, and its fixed assets are $1,000,000, what is fixed asset turnover?

A) 2.0 times
B) 1.5 times
C) 0.5 times
D) .67 times