Deflorio Corporation's inventory at the end of Year 2 was $161,000 and its inventory at...
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Accounting
Deflorio Corporation's inventory at the end of Year 2 was $161,000 and its inventory at the end of Year 1 was $146,000. The company's total assets at the end of Year 2 were $1,446,000 and its total assets at the end of Year 1 were $1,404,000. Sales amounted to $1,390,000 in Year 2. The company's total asset turnover for Year 2 is closest to:
0.98
1.03
9.28
9.06
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