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Deflorio Corporation's inventory at the end of Year 2 was $169,000 and its inventory at the end of Year 1 was $154,000. The company's total assets at the end of Year 2 were $1,491,000 and its total assets at the end of Year 1 were $1,428,000. Sales amounted to $1,480,000 in Year 2. The company's total asset turnover for Year 2 is closest to: A. 9.16 B. 0.99 C. 9.04 D. 1.01

Deflorio Corporation's inventory at the end of Year 2 was $169,000 and its inventory at the end of Year 1 was $154,000. The company's total assets at the end of Year 2 were $1,491,000 and its total assets at the end of Year 1 were $1,428,000. Sales amounted to $1,480,000 in Year 2. The company's total asset turnover for Year 2 is closest to: A. 9.16 B. 0.99 C. 9.04 D. 1.01

FINANCIAL ACCOUNTING
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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Deflorio Corporation's inventory at the end of Year 2 was $169,000 and its inventory at the end of Year 1 was $154,000. The company's total assets at the end of Year 2 were $1,491,000 and its total assets at the end of Year 1 were $1,428,000. Sales amounted to $1,480,000 in Year 2. The company's total asset turnover for Year 2 is closest to: A. 9.16 B. 0.99 C. 9.04 D. 1.01
Transcribed Image Text:Deflorio Corporation's inventory at the end of Year 2 was $169,000 and its inventory at the end of Year 1 was $154,000. The company's total assets at the end of Year 2 were $1,491,000 and its total assets at the end of Year 1 were $1,428,000. Sales amounted to $1,480,000 in Year 2. The company's total asset turnover for Year 2 is closest to: A. 9.16 B. 0.99 C. 9.04 D. 1.01
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