Deflorio corporation's inventory at the end of year 2 was $156,000 and its inventory at the end of year 1 was $140,000. the company's total assets at the end of year 2 were $1,416,000 and its total assets at the end of year 1 were $1,390,000. sales amounted to $1,320,000 in year 2. the company's total asset turnover for year 2 is closest to:

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09-06-2017
Business

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Deflorio corporation's inventory at the end of year 2 was $156,000 and its inventory at the end of year 1 was $140,000. the company's total assets at the end of year 2 were $1,416,000 and its total assets at the end of year 1 were $1,390,000. sales amounted to $1,320,000 in year 2. the company's total asset turnover for year 2 is closest to:

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Aliwohaish12 Aliwohaish12 · Answer 1 · 2017-06-10T02:42:37+02:00

Aliwohaish12 Aliwohaish12

10-06-2017

Hi there

Total assets turnover=
Sales ÷ average total assets

Average total assets=
(1,390,000+1,416,000)÷2
=1,403,000

So total assets turnover
1,320,000÷1,403,000
=0.94

Hope it helps

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