Homework Answers
COMPUTATION OF ASSET TURNOVER :
FORMULA,
ASSET TURNOVER = ( NET SALES ÷ AVERAGE TOTAL ASSETS )
where net sales = $500000
and, Average total assets = (Beginning assets + Ending assets)÷2
= ($110000+$100000)÷2 = $105000
Therefore Asset Turnover = ( $500000÷$105000 ) = 4.76
The Correct Option is (C)
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