A company had average total assets of $887,000. Its gross sales were $1,090,000 and its net sales were $1,000,000. The company's total asset turnover equals:

Name: A company had average total assets of $887,000. Its gross sales were $1,090,000 and its net sales were $1,000,000. The company's total asset turnover equals:
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Question

Quizplus · Accepted Answer

Total Asset Turnover = Net Sales / Average Total Assets
Total Asset Turnover = $1,000,000 / $887,000
Total Asset Turnover = 1.13

A Company Had Average Total Assets of $887,000