Compute the fixed asset turnover ratio

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Reference no: EM133492490

Case: FedEx Corporation (FDX) and United Parcel Service, Inc. (UPS) compete in the package delivery business. The major fixed assets for each business include aircraft, sorting and handling facilities, delivery vehicles, and information technology. The sales and average book value of fixed assets reported on recent financial statements for each company were as follows:

Line Item Description FedEx UPS
Sales (in millions) $69,693 $74,094
Average book value of fixed assets (in millions) 29,292 28,529

Question: Compute the fixed asset turnover ratio for each company. Round to one decimal place

Reference no: EM133492490

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