The Miller Company reported gross sales of $850,000, sales returns and allowances of $15.000 and sales discounts of $5,000. The company has average total assets of $500,000, of which $250000 is property, plant, and equipment. What is the company's asset turnover ratio?

a). 1.67 times 

b). 3.32 times 

c). 1.70 times 

d). 1.66 times

Answer rating: 100% (QA)

net sales850000150005000 830... View the full answer