Polycryo, Inc. has a gross profit of $157,500 on sales of $525,000. The balance sheet shows average total assets of $75,000 with an average inventory balance of $55,000. Polycryo's total asset turnover and inventory turnover are closest to: Asset turnover Inventory turnover A. 7.00 times 2.00 times B. 2.00 times 7.00 times C. 7.00 times 7.00 times

Polycryo, Inc. has a gross profit of $157,500 on sales of $525,000. The balance sheet shows average total assets of $75,000 with an average inventory balance of $55,000. Polycryo's total asset turnover and inventory turnover are closest to: Asset turnover Inventory turnover A. 7.00 times 2.00 times B. 2.00 times 7.00 times C. 7.00 times 7.00 times

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 6MCQ

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