Pizza,Inc.provides the following data: For the year ending December 31,2019:
There are no cash sales.Calculate the asset turnover ratio for 2019.(Round your answer to two decimal places. )
A)3.91 times
B)0.99 times
C)0.65 times
D)1.98 times

Question

Pizza,Inc.provides the following data:  For the year ending December 31,2019:
 There are no cash sales.Calculate the asset turnover ratio for 2019.(Round your answer to two decimal places. )
A)3.91 times 
B)0.99 times 
C)0.65 times 
D)1.98 times

Quizplus · Accepted Answer

Asset turnover ratio = Net Sales / Average total assets = $500,000 / [($248,000+ $257,000)/ 2] = $500,000 / 252,500 = 1.98 times

Pizza,IncProvides the Following Data: for the Year Ending December