Gibson's has sales for the year $539,400, cost of goods sold equal to 74 percent of sales, and have an average inventory of $78,000. The profit margin is 8 percent and the tax rate is 30 percent. How many days, on average does it take the company to sell an inventory item? Assume 365 days per year. Please show work!!

Answers: 53.19 days, 71.87 days, 77.01 days, 65.88 days, 57.50 days