In its 2017 annual report, Campbell Soup Company reports beginning-of-the-year total assets of $7,837 million, end-of-the-year total assets of $7,726 million, total sales of $7,890 million, and net income of $887 million. Compute Campbell's asset turnover. (Round answer to 4 decimal places, e. g. 4.8726.)

1.0139 times

Explanation:

Given the above information, Campbell's asset turnover is computed as

= Net sales/Average total assets

Net sales = $7,890 million

Average total assets = ($7,837 million + $7,726 million ) / 2 = $7,781.5 million

Assets turnover = $7,890 million / $7,781.5 million

Assets turnover = 1.0139 times

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