Use the Table for the Question(s)below

question 20

Multiple Choice

Use the table for the question(s) below.
Consider the following balance sheet:
-Luther Corporation's total sales for 2019 were $610.1 million,and gross profit was $109.0 million.Inventory days for 2019 is closest to:

• A)27.5.
• B)33.4.
• C)153.7.
• D)10.9.

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Definitions:

Costs Percentage

The proportion of costs (operational, production, etc.) relative to some base measure, such as sales.

Fixed Assets

Long-term tangible property or equipment that a company owns and uses in its operations to generate income.

Operating Capacity

The maximum output a company can produce under normal conditions.

Sales Increase

An uptick in the volume or value of products or services sold by a business over a given period.