Dandy Hardware Stores reported the following asset values in 2012 and 2013:
...................................................................2013............... 2012
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 40,000.......... $ 25,000
Accounts receivable . .. . .. . . . . . . . . . . . . . . . . . . . . . 380,000.......... 330,000
Inventory . . . . . . . . . . . . .... . . . . . . . . . . . . . . . . . . . . 590,000.......... 410,000
Land . . . . . . . . . . . . . .. . . .. . . . . . . . . . . . . . . . . . . . . 150,000.......... 125,000
Buildings . . . . . . . . . . ... . .. . . . . . . . . . . . . . . . . . . . . 500,000......... 450,000
Equipment . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . 260,000......... 250,000
In addition, Dandy Hardware had sales of $3,500,000 in 2013. Cost of goods sold for the year was $2,200,000.
Compute Dandy Hardware's fixed asset turnover ratio for 2013.