Question: Click to watch the Tell Me More Learning Objective 7 video and then answer the questions below. 1. The fixed asset turnover ratio is

Click to watch the Tell Me More Learning Objective 7 video and then answer the questions below. 1. The fixed asset turnover ratio is computed as a. sales; average book value of fixed assets b. net income; average book value of fixed assets c. sales; book value of fixed assets d. average book value of fixed assets; sales divided by < 2. Financial statement data for the year ending December 31 for Navajo Company follow: Sales Net income Fixed assets (net): Beginning of year End of year $2,550,000 1,258,000 800,000 985,000 The fixed asset turnover ratio for Navajo Company on December 31 would be a. 2.9. b. 2.6. c. 1.4. d. 1.9.

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