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:

Shareholders

Individuals or entities that own one or more shares of stock in a corporation, giving them partial ownership and possibly a right to vote on corporate matters.

Dissolution

The process of officially ending or dissolving an entity, such as a corporation or partnership, according to legal procedures.

Paralegal

A trained legal professional who assists attorneys in researching, preparing, and managing legal documents and cases but is not licensed to practice law.

Corporate Securities

Financial instruments issued by corporations, including stocks and bonds, representing ownership or debt obligations.