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Lok Co. reports net sales of $5,811,000 for Year 2 and $8,556,000 for Year 3. End-of-year balances for total assets are Year 1, $1,550,000; Year
Lok Co. reports net sales of $5,811,000 for Year 2 and $8,556,000 for Year 3. End-of-year balances for total assets are Year 1, $1,550,000; Year 2. $1769,000; and Year 3, $1,939,000. (1) Compute Lok's total asset turnover for Year 2 and Year 3. Total Asset Turnover Choose Numerator: Choose Denominator: - Total Asset Turnover Net sales Average total assets Total asset tumover Year 5.811.000 S $ Year 3 8,556,000
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