Use the Table for the Question(s)below

question 16

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 inventory days is closest to:

• A)32 days.
• B)59 days.
• C)39 days.
• D)42 days.

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Definitions:

Historical Significance

The importance or impact of an event, idea, or person in history and how it has contributed to or altered the course of human society.

The Amistad

A historical event in 1839 involving a successful revolt by enslaved Africans on the Spanish schooner La Amistad.

Historical Significance

The importance of an event, person, or place based on its impact on history.

Fugitive Slaves

Enslaved individuals who escaped from their enslavers in pursuit of freedom, often facing severe repercussions or the risk of recapture under laws like the Fugitive Slave Act.