Jennifer Inc. reported the following facts in its 2014 annual report: net sales of $9,683 million for
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Jennifer Inc. reported the following facts in its 2014 annual report: net sales of $9,683 million for 2013 and $9,050 million for 2014; total end-of-year assets of $10,690 million for 2013 and $13,435 million for 2014. Calculate the total asset turnover for 2014 and identify whether it compares favorably or unfavourably with the industry average in Exhibit 18.11.
Asset TurnoverAsset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.
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Related Book For 
Fundamental Accounting Principles Volume II
ISBN: 978-1259066511
14th Canadian Edition
Authors: Larson Kermit, Jensen Tilly
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