There are no cash sales. Calculate the asset turnover ratio for 2019. (Round your answer to two decimal places.)
Pizza, Inc. provides the following data:
For the year ending December 31, 2019:
A) 3.91 times
B) 0.99 times
C) 0.65 times
D) 1.98 times
D) 1.98 times
Asset turnover ratio = Net Sales / Average total assets = $500,000 / [($248,000+ $257,000)
/ 2] = $500,000 / 252,500 = 1.98 times
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