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:

Potassium Channels

Protein channels in cell membranes that allow potassium ions to pass in and out of the cell, playing key roles in cell signaling and electrical conductivity.

Sodium Channels

A type of ion channel found in the membranes of cells, specifically permeable to sodium ions, crucial for initiating and conducting electrical signals in neurons.

Action Potentials

Rapid and temporary electrical impulses that travel along neurons, essential for nerve impulse transmission.

Axon Hillock

The cone-shaped region of an axon of a neuron where the axon joins the cell body, and where action potentials are initiated.