Question: Jennifer Inc reported the following facts in its 2014 annual
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.
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