Question: Analyzing Fixed Assets Pitt reported the following information for 2018 and 2019: 2018 2019 Property, plant, and equipment, cost $550,000 $ 550,000 Accumulated depreciation 170,000

Analyzing Fixed Assets

Pitt reported the following information for 2018 and 2019:

2018 2019
Property, plant, and equipment, cost $550,000 $ 550,000
Accumulated depreciation 170,000 220,000
Net sales 4,600,000
Depreciation expense 50,000

Required:

Compute Pitt's fixed asset turnover ratio and the average age of its fixed assets. Enter your answers to two decimal places.

Fixed asset turnover times
Average age of fixed assets years

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