A company had average total assets of $902000. It's gross sales were $1,085,000 and its net sales were $995000. The company's total asset turnover equals:

Question

asked Mar 13, 2024 93.4k views

1 Answer

Dag Wieers · Answer 1 · 2024-03-19T00:32:32+0000

Answer:

Total Asset Turnover = Net Sales/Average Total Assets

Total Asset Turnover = $995,000/$902,000 = 1.10

Step-by-step explanation:

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