Laverde Corporation has provided the following data: $$\begin{array} { | l | r | r | }
\hline & \text { Year } \mathbf { 2 } & \text { Year 1 } \
\hline \text { Inventory } & \$ 185,000 & \$ 200,000 \
\hline \begin{array} { l }
\text { Total } \
\text { assets }
\end{array} & \$ 1,489,000 & \$ 1,470,000 \
\hline \text { Sales } & \$ 1,220,000 & \
\hline
\end{array}$$ The company's total asset turnover for Year 2 is closest to:
A)1.22
B)7.60
C)0.13
D)0.82

Question

Laverde Corporation has provided the following data: $$\begin{array} { | l | r | r | } 
\hline & \text { Year } \mathbf { 2 } & \text { Year 1 } \
\hline \text { Inventory } & \$ 185,000 & \$ 200,000 \
\hline \begin{array} { l } 
\text { Total } \
\text { assets }
\end{array} & \$ 1,489,000 & \$ 1,470,000 \
\hline \text { Sales } & \$ 1,220,000 & \
\hline
\end{array}$$ The company's total asset turnover for Year 2 is closest to:
A)1.22
B)7.60
C)0.13
D)0.82

Quizplus · Accepted Answer

The Answer of Laverde Corporation has provided the following data: $$\begin{array} { | l | r | r | } 
\hline & \text { Year } \mathbf { 2 } & \text { Year 1 } \
\hline \text { Inventory } & \$ 185,000 & \$ 200,000 \
\hline \begin{array} { l } 
\text { Total } \
\text { assets }
\end{array} & \$ 1,489,000 & \$ 1,470,000 \
\hline \text { Sales } & \$ 1,220,000 & \
\hline
\end{array}$$ The company's total asset turnover for Year 2 is closest to:
A)1.22
B)7.60
C)0.13
D)0.82

Laverde Corporation Has Provided the Following Data The Company's Total Asset Turnover for Year 2 Is Closest