ALT Had $25 Million in Sales Last Year

question 63

Multiple Choice

ALT had $25 million in sales last year. Its cost of goods sold was $15 million and its average inventory balance was $3 million. The average days of inventory in the industry is 65 days. What would ALT's average inventory need to be so that it would meet the industry average?

• A) $4.45 million
• B) $3.65 million
• C) $3.33 million
• D) $2.67 million

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Definitions:

Menarche

The first occurrence of menstruation in a female, marking the onset of reproductive capability.

Puberty

The period of sexual maturation, during which a person becomes capable of reproducing.

Primary Sex Characteristics

The body structures (ovaries, testes, and external genitalia) that make sexual reproduction possible.

Secondary Sex Characteristics

Nonreproductive sexual characteristics, such as female breasts and hips, male voice quality, and body hair.