Use the table for the? question(s) below. Luther Industries had sales of? $980 million and a...

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Use the table for the? question(s) below. Luther Industries hadsales of? $980 million and a cost of goods sold of? $560 million in2006.? A simplified balance sheet for the firm appears? below:Luther Industries Balance Sheet As of December? 31, 2006 ?(millions of? dollars) Assets Liabilities and Equity Cash 25Accounts payable 60 Accounts receivable 85 Notes payable 425Inventory 90 Accruals 45 Total current assets 200 Total currentliabilities 530 Net? plant, property, and equipment 6100 Long termdebt 2725 Total assets 6300 Total liabilities 3255 Common equity3045 Total liabilities and equity 6300 ?Luther's cash conversioncycle is closest to? ________.
A. 66 days
B. 51 days
C. 129 days
D. 71 days

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Inventory turnover COGSinventory Inventory turnover 56090 Inventory turnover 622 days of inventory on hand number of days in a yearinventory turnover days of inventory on hand 365622 See Answer

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Use the table for the? question(s) below. Luther Industries hadsales of? $980 million and a cost of goods sold of? $560 million in2006.? A simplified balance sheet for the firm appears? below:Luther Industries Balance Sheet As of December? 31, 2006 ?(millions of? dollars) Assets Liabilities and Equity Cash 25Accounts payable 60 Accounts receivable 85 Notes payable 425Inventory 90 Accruals 45 Total current assets 200 Total currentliabilities 530 Net? plant, property, and equipment 6100 Long termdebt 2725 Total assets 6300 Total liabilities 3255 Common equity3045 Total liabilities and equity 6300 ?Luther's cash conversioncycle is closest to? ________.A. 66 daysB. 51 daysC. 129 daysD. 71 days