What is the forecasted value of property, plan and equipment (PP&E) based on the following information: Capital asset turnover ratio: 2.5 Forecasted revenues: $120 Forecasted costs of goods sold: $80

Forecasted value of property, plan and equipment (PP&E) is $48.

Explanation:

First note that Capital asset is the same thing as property, plan and equipment (PP&E).

In order to calculate this, we therefore use the formula for calculating the Capital asset turnover ratio which is the ratio of forecasted revenues to forecasted value of property, plan and equipment (PP&E) as follows:

Capital asset turnover = Forecasted revenues / Forecasted value of PP&E

Substituting for the values in the question into the equation above and solve for Forecasted value of PP&E, we have:

2.5 = 120 / Forecasted value of PP&E

Forecasted value of PP&E = 120 / 2.5 = $48

Therefore, the forecasted value of property, plan and equipment (PP&E) is $48.

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