Xtreme Sports had gross sales of $485,000 in Year 1 and $555,000 in Year 2.Its net sales were $475,300 for Year 1 and $541,500 for Year 2.Its average assets were $400,000 for Year 1 and $410,000 for Year 2.Calculate the total asset turnover for each year and comment on the company's efficiency in the use of its assets.

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The Answer of Xtreme Sports had gross sales of $485,000 in Year 1 and $555,000 in Year 2.Its net sales were $475,300 for Year 1 and $541,500 for Year 2.Its average assets were $400,000 for Year 1 and $410,000 for Year 2.Calculate the total asset turnover for each year and comment on the company's efficiency in the use of its assets.

Xtreme Sports Had Gross Sales of $485,000 in Year 1