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Westport Company Reports the Following in Millions: Net Sales of $25,300

Question 113

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Westport Company reports the following in millions: net sales of $25,300 for 2016 and $22,640 for 2015; end-of-year total assets of $14,875 for 2016 and $13,680 for 2015. Compute its total asset turnover for 2016 and assess its level if competitors average a total asset turnover of 2.0 times.

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Average total assets = ($14,875 + $13,68...

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