Kragle Corporation reported the following financial data for one of its divisions for the year;average invested assets of $470,000;sales of $930,000;and income of $105,000.The investment turnover is:
A)22.3.
B)50.5.
C)1.98.
D)447.6.
E)11.3.

Question

Quizplus · Accepted Answer

Investment turnover is calculated as Sales divided by Average Invested Assets. Therefore, $930,000 / $470,000 = 1.98.

Kragle Corporation Reported the Following Financial Data for One of Its