Use the table for the question(s)below.
Luther Industries had sales of $980 million and a cost of goods sold of $560 million in 2006.A simplified balance sheet for the firm appears below:
Luther Industries
Balance Sheet
As of December 31,2006
(millions of dollars)
-Luther's Inventory days is closest to:
A)32 days
B)59 days
C)39 days
D)42 days

Question

Use the table for the question(s)below.
Luther Industries had sales of $980 million and a cost of goods sold of $560 million in 2006.A simplified balance sheet for the firm appears below:
Luther Industries
Balance Sheet
As of December 31,2006
(millions of dollars) 
-Luther's Inventory days is closest to:
A)32 days 
B)59 days 
C)39 days 
D)42 days

Quizplus · Accepted Answer

B)Inventory days = 11ea7cce_3c3d_0346_928c_73fc451289e0_TB1626_11 = 11ea7cce_3c3d_0347_928c_4b61570888b5_TB1626_11 = 58.66 days

Use the Table for the Question(s)below