The below financial statement data is for the year ending December 31 for the agency company:

Sales	$300,000
Total assets:
beginning of the year	200,000
End of the year	100,000

Based on this information, what is the amount to be used as the denominator in the asset turnover ratio?

Answer rating: 100% (QA)

To calculate the asset turnover ratio we need to divide sales by average total as... View the full answer