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Deflorio corporation's inventory at the end of year 2 was $168,000 and its inventory at the end of year 1 was $153,000. the company's total assets at the end of year 2 were $1,481,000 and its total assets
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Aug 13, 2018
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Deflorio corporation's inventory at the end of year 2 was $168,000 and its inventory at the end of year 1 was $153,000. the company's total assets at the end of year 2 were $1,481,000 and its total assets at the end of year 1 were $1,424,000. sales amounted to $1,460,000 in year 2. the company's total asset turnover for year 2 is closest to:
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Rkersh
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Hi there
Total assets turnover=sales÷average total assets
Average total assets
(1,481,000+1,424,000)÷2=1,452,500
So total assets turnover is
1,460,000÷1,452,500=1.01...answer
Hope it helps
Mushi
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Aug 17, 2018
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Mushi
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