1. Calculate the inventory-to-sale conversion period based on the following information: average inventories = $120,000; average receivables = $90,000; average payables = $40,000; cost of goods sold = $182,500; and net sales = $365,000.

   	a.	180 days
   	b.	90 days
   	c.	60 days
   	d.	240 days