Extensive Enterprise Inc. has forecasted sales of $27.0 million for next year and expects its cost of goods sold (COGS) to remain at 60% of sales. Currently, the firm holds $2.7 million in inventories, $1.9 million in accounts receivable, and $2.6 million in accounts payable. Approximately how long does it currently take Extensive Enterprise Inc. to convert raw materials to its finished products and then to sell them? (Note: Use 365 days as the length of a year in all calculations. Use COGS per day, rather than sales per day, when calculating the inventory conversion period. This is another common variation of the ratio.) 51.71 days 63.87 days 66.91 days 60.83 days On average, how long does it take from the time a sale is made until the time cash is collected from customers? Extensive Enterprise Inc. relies on customer credit when it buys raw materials from its suppliers. How long does it take after the firm purchases materials before it sends cash to its suppliers What is the length of Extensive Enterprise Inc.'s cash conversion cyde (CCC)? In general, firms prefera Is it possible for a firm to have a negative CCC