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Find the company total asset turnover for year two

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Reference no: EM132500847

Question 1: Deflorio Corporation's inventory at the end of Year 2 was $159,000 and its inventory at the end of Year 1 was $143,000. The company's total assets at the end of Year 2 were $1,431,000 and its total assets at the end of Year 1 were $1,396,000. Sales amounted to $1,360,000 in Year 2. The company's total asset turnover for Year 2 is closest to:

Multiple Choice

Option 1: 9.36

Option 2: 0.96

Option 3: 9.01

Option 4: 1.04

Reference no: EM132500847

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