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. Purple Panda Importers Corporation has forecasted sales of $28,000,000 for next year and expects its cost of goods sold (COGS) to remain at 60% of sales. Currently, the firm holds $2,800,000 in inventory, $1,900,000 in accounts receivable, and $2,800,000 in accounts payable. Approximately how long does it take Purple Panda Importers to convert its raw materials to its finished products and then to sell those goods? (Note: Use 365 days as the length of a year in all calculations, and round all values to two decimal places.) 45.62 days 57.79 days 60.83 days 54.75 days