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Pt 2 what is the inventory turnover?
QUESTION 41 1 pa Balance Sheet 20,000 Accruals Cash & WS Receivables Fixed Assets Total Assets Annual Sales$1,500,00 ccounts Payable Notes Payable Inventones Net Income $60,000 Stock price = $60 What is the total asset turnover ratio of the firm/ tuse a 360-day year) 0.55 0.75 O 1.05 1.57 O 3.0 L Cuhmit to saue and submit. Click Save All Ans
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Answer #1

E. 3.0

Total asset turnover ratio = Sales / Total assets = $1,500,000 / $500,000 = 3.0

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