Question: 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

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

Sales$300,000
Total assets:
beginning of the year200,000
End of the year100,000


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

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