Use the Table for the Question(s)below

question 25

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's Inventory days is closest to:

• A)32 days
• B)59 days
• C)39 days
• D)42 days
• E)47 days

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Definitions:

Intuition

The ability to understand or know something immediately, based on feelings rather than facts or evidence.

Logical Reasoning

The process of using a structured, methodical approach to arrive at conclusions or solve problems based on given premises or facts.

Left Hemisphere

The hemisphere of the brain that is typically associated with analytical thought, language, logic, and sequential processing.

Planning

The process of defining goals, establishing strategies for achieving those goals, and developing plans to integrate and coordinate activities.