If a company had average total assets of $945,000. its gross sales were $1,104,000 and its net sales were $950,000. the company's total asset turnover equals: 1.01
How to calculate the total asset turnover?
Using this formula to determine the total asset turnover
Total asset turnover = Net Sales / Average Total Assets
Let plug in the formula
Total asset turnover = $950,000 / $945,000
Total asset turnover = 1.005
Total asset turnover = 1.01 (Approximately)
Therefore the Total asset turnover is 1.01.
Learn more about Total asset turnover here:https://brainly.com/question/28192488
#SPJ1
