A company reports the following: $$\begin{array} { l r }
\text { Sales } & \$ 2,400,000 \
\text { Average total assets (excluding long-term investments) } & 1,500,000
\end{array}$$
Determine the asset turnover ratio. Round your answer to one decimal place.

Question

A company reports the following: $$\begin{array} { l r } 
\text { Sales } & \$ 2,400,000 \
\text { Average total assets (excluding long-term investments) } & 1,500,000
\end{array}$$ ​
Determine the asset turnover ratio. Round your answer to one decimal place.

Quizplus · Accepted Answer

The Answer of A company reports the following: $$\begin{array} { l r } 
\text { Sales } & \$ 2,400,000 \
\text { Average total assets (excluding long-term investments) } & 1,500,000
\end{array}$$ ​
Determine the asset turnover ratio. Round your answer to one decimal place.