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Magpie Creations has a fixed asset turnover of 2.30 times. The ratio indicates that:
a. Magpie's cost of goods sold is $2.30 for each dollar invested in fixed assets.
b. Magpie has $2.3 worth of assets for each dollar of cost of goods sold.
c. Magpie generates revenue of $2.30 for each dollar invested in fixed assets.
d. Magpie has $2.3 worth of assets for each dollar of revenue generated.
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