What is its total assets turnover?? A company has sales of $500,000, cost of goods sold of$100,000, operating expenses of $100,000, averageinventory of $8,000, average accounts receivable of$10,000, and average total assets of $35,000, what isits total asset turnover?

Step 1: Define Asset Turnover RatioThe asset turnover ratio shows how efficiently the business is…

Answered: A company has sales of $500,000, cost…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A company has sales of $500,000, cost of goods sold of $100,000, operating expenses of $100,000, average inventory of $8,000, average accounts receivable of $10,000, and average total assets of $35,000, what is its total asset turnover?