5. cash conversion cycle 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 purple Panda Importers oorporation: Purple Panda Importers Corporation has forecasted sales of $27,000,000 for next year and expects its cost of goods sold (coGs) to remain of Ourrently, the firm holds $3,100,000 in inventories, $1,800,000 in aocounts receivable, and $2,500,ooo in accounts payable Approximately how long does it take purple panda Importers toconvert its raw materials to its finished products and then to sell those goods? (Note: In all calaulations, assume that there are 365 days in a year.) O 57.62 days O 44.52 days O 52.38 days O 39.29 days from the time a sale is made until the time cash is collected from customers. On average, it takes Purple Panda Importers relies on customer credit when it buys raw materials from its suppliers. on average, ittakes after the firm purchases materials before it sends cash to its suppliers. what is the length of purple Panda Importers's cash conversion cycle (coc)? O 41.35 days 31.01 days 36.18 days o 34.46 days