Use the Table for the Question(s)below

question 7

Multiple Choice

Use the table for the question(s) below.
Luther Enterprises Ltd had sales of $850 million and a cost of goods sold of $500 million in 2016.
A simplified balance sheet for the firm appears below:
-Luther's 'Inventory' days figure is closest to:

• A)72 days.
• B)79 days.
• C)62 days.
• D)82 days.

---

Definitions:

Currency Selection Return

The return attributed to the choice of currency in which investments are denominated.

EAFE

An abbreviation for Europe, Australasia, and Far East, representing a stock market index that gauges the equity market performance of developed markets outside of the U.S. and Canada.

Benchmark

A standard or reference by which others can be measured or judged, often used in finance to compare the performance of investments.

Exchange Rates

The rate at which one currency can be exchanged for another currency, often used in international trade and investment.