Use the Table for the Question(s)below

question 7

Multiple Choice

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 2019.A simplified balance sheet for the firm appears below:
Luther Industries
Balance Sheet
As of December 31,2019
(millions of dollars)
-Luther's cash conversion cycle is closest to:

• A)51 days.
• B)66 days.
• C)71 days.
• D)129 days.

---

Definitions:

Lymph Nodes

Small, bean-shaped structures that produce and store cells that help fight infection and disease.

Bacteria

Microscopic, single-celled organisms found in diverse environments, capable of causing disease or contributing to health.

White Pulp

Part of the spleen consisting of lymphatic nodules and diffuse lymphatic tissue; associated with arteries.

Spleen

Large lymphatic organ in the upper part of the abdominal cavity on the left side between the stomach and diaphragm, composed of white and red pulp. It responds to foreign substances in the blood, destroys worn-out red blood cells, and is a storage site for blood cells.