Bacci, Inc. had net sales of $ 54 comma 600 comma 000 for the year ended May 31, 2018. Its beginning and ending total assets were $ 54 comma 600 comma 000 and $ 94 comma 600 comma 000, respectively. Determine Bacci's asset turnover ratio for year ended May 31, 2018.

Asset turnover ratio helps investors understand how effectively companies are using their assets to generate sales. Asset turnover ratio is calculated by using following formula:

Asset Turnover ratio = Total Sales/ Average Total Assets

where:

Average Total Assets = (Beginning Assets + Ending Assets )/2 = (Assets at the beginning of year +Assets at end of year )/2

In Bacci, Inc., Average Total Assets = ($54,600,000 + $94,600,000)/2 = $74,600,000

Asset Turnover ratio = $54,600,000/$74,600,000 = 0.73

Bacci​, Inc. had net sales of $ 54 comma 600 comma 000 for the year ended May ​31, 2018. Its beginning and ending total assets were $ 54 comma 600 comma 000 and $ 94 comma 600 comma 000​, respectively. Determine Bacci's asset turnover ratio for year ended May ​31, 2018.

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Bacci, Inc. had net sales of $ 54 comma 600 comma 000 for the year ended May 31, 2018. Its beginning and ending total assets were $ 54 comma 600 comma 000 and $ 94 comma 600 comma 000, respectively. Determine Bacci's asset turnover ratio for year ended May 31, 2018.