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 following case: Galaxy Corp. has forecasted sales of $28,0 million for next year and expects its cost of goods sold (COGS)to remain at 60% of sales. Currently, the firm holds $3.1 million in investories $2.1 million in accounts receivable, and $2.5 million in accounts payable. Approximately how long does x currently take Galaxy Corp. to convert row materials to its finished products and then to sell them? (Note: Use 365 days as the length of a year in all calculations.) 50.51 days 70.72 days 53.88 days 67.35 days On average, how long does it take from the time a sale is made until the time cash is collected from customers