Data on Liu Inc. for the most recent year are shown below, along with the inventory conversion period (ICP) of the firms against which it benchmarks. The firm's new CFO believes that the company could reduce its inventory enough to reduce its ICP to the benchmarks' average. If this were done, what is the firm's new inventory level? Use'a 365-day year. (hint: use the benchmark ICP and COGS to calculate the new inventory level.) Cost of goods sold = $85,000 Inventory = $20,000 Inventory conversion period (ICP) = 85.88 Benchmark inventory conversion period (ICP) = 38.00 $7,010 $8,146 $8,849 $9.478 $10,050