Use the Table for the Question(s)below

question 4

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 2006.A simplified balance sheet for the firm appears below:
Luther Industries
Balance Sheet
As of December 31,2006
(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:

Pleadings

Written statements filed with a court by parties in a legal dispute, detailing the claims, defenses, and other legal arguments.

Complaint

A formal legal document filed in a court by a party alleging harm or wrongdoing by another party, and seeking legal redress or relief.

Summons

A legal document issued by a court or a government official that orders an individual to appear in court.

Answer

A legal document filed in court by a defendant responding to the allegations made in a plaintiff's complaint, offering defenses or counterclaims.