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.

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Definitions:

Ratio Level

The highest level of measurement that describes data with a natural zero point and equal intervals, allowing for the computation of ratios.

Absolute Zero

A point on a scale where there is a complete absence of the measured phenomenon, allowing for ratio comparisons.

Ordinal Level

A measurement scale that categorizes data while preserving the order of the categories but not assuming equal intervals between them.

Order

The arrangement or sequence of elements or events in a particular way.