2. Cash conversion cycie Cash management is a very important function of managers. Companies need to manage their operations in a way that they can sustain growth and yet not run out of cash. Consider the case of the Happy Turtie Transporters Corporation: Happy Turtle Transporters Corporation has forecasted sales of $27,000,000 for next year and expects its cost of goods soid (COGS) to remain at 70% of sales. Currently, the firm holds $2,700,000 in inventorles, $2,100,000 in accounts receivable, and $2,500,000 in accounts payable. Approximately how long does it take Happy Turtle Transporters to convert its raw materials to its finished products and then to sell those goods? (Note: In all calculations, assume that there are 365 days in a year.) 39.11deys54.75days41.71days52.14days On averoge, it takes from the time a sale is made until the time cash is collected from customers. Happy Turte iransporters relies on customer credit when it buys raw materials from its suppliers. On average, it takes purchases materials before it sends cash to its supptiers: (Note: In all calculations, assume that there are 365 days in a year.) On average, it takes from the time a sale is mode until the time cash is collected from customers. Hoppy Turte. Tronsporters relies on customer credit when it buys raw materials from its suppliers. On average, it takes purchases materials before it sends casn to its suppliers. ipproximately how long does it take Happy Turtle Transporters to convert its raw materials to its finished products and then to sell those goods? Note: In all calculations, assume that there are 365 days in a year.) 39.11 days 54.75 days: 41.71 days \$2.14 days