Use the Table for the Question(s)below

question 28

Essay

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)
-Calculate the number of days in Luther's Operating Cycle.

---

Definitions:

2009

A year that marked the end of the late-2000s financial crisis and the beginning of economic recovery for many countries.

Productivity Growth

An increase in the efficiency of production, often measured as the rate at which an economy can produce goods and services relative to inputs over time.

World War II

A global conflict that lasted from 1939 to 1945, involving most of the world's nations, including all of the great powers, eventually forming two opposing military alliances: the Allies and the Axis.

U.S. Productivity

A measure of the efficiency of production in the United States, typically quantified as the ratio of output to inputs used in the production process.