Fitzgeralds Emporium reported the following asset values in 2011 and 2012: In addition, Fitzgeralds had sales of
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In addition, Fitzgerald€™s had sales of $3,650,000 in 2012. Cost of goods sold for the year was $2,300,000. Compute Fitzgerald€™s fixed asset turnover ratio for2012.
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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2012 2011 Land 350000 310000 Buildings 740000 ...View the full answer
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Related Book For 
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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