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40. Your firm's cost of goods sold (COGS) average $1,600,000 per month, and it keeps inventory equal to 55% of its monthly COGS on hand

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40. Your firm's cost of goods sold (COGS) average $1,600,000 per month, and it keeps inventory equal to 55% of its monthly COGS on hand at all times. Using a 365-day year, what is its inventory conversion period? a. 11.7 days b. 13.4 days c. 14.4 days d. 15.2 days e. 18.2 days

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