Derrington Corporation's inventory at the end of Year 2 was $195,000 and its inventory at the end of Year 1 was $183,000. The company's total assets at the end of Year 2 were $1,625,000 and its total assets at the end of Year 1 were $1,512,000. Sales amounted to $1,690,000 in Year 2. The company's total asset turnover for Year 2 is closest to_. a. 1.08 b. 9.21 c. 8.95 d. 0.98 help

Derrington Corporation's inventory at the end of Year 2 was $195,000 and its inventory at the end of Year 1 was $183,000. The company's total assets at the end of Year 2 were $1,625,000 and its total assets at the end of Year 1 were $1,512,000. Sales amounted to $1,690,000 in Year 2. The company's total asset turnover for Year 2 is closest to_. a. 1.08 b. 9.21 c. 8.95 d. 0.98 help

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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