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29. Asset turnover measures A) the profit generated by efficient management of assets. B) how quickly we liquidate our inventory. c) the sales revenue generated by efficient management of assets. D) the ability to earn profit for the stockholders. E) none of the above 30. In 2003, Deckers Outdoors gross profit percentage was 42.4% while their competitor, Timberland'percentage was 46.5%. Which was the most likely reason for Timberlands higher percentage? A, Lower selling prices B) Lower product cost as a percentage of sales C) Ability to differentiate their product in consumers' eyes D) Both B and C are likely reasons for Timberlands higher percentage E) All of the above cause the higher percentage 31. Toys "R" Us had cost of goods sold in 2004 of $7,506 million and $7,646 million in 2003. Their merchandise inventory in 2004 was $,884 million and $2,094 million in 2003. How long were their average days to sell inventory in 2004? A) 104.52 days B) 10031 days C) 9682 days D) None of the above. 32 In 2003, Landry's Restaurants' sales were $1,105.8 million and their property and cquipment assets were $965.6 million. In 2002, their sales were $746.6 million and property and equipment was $830.9 million. Landry's fixed asset turnover ratio in 2003 equals A) 1.66 B) 1.23 C) 1.02 D) None of the above