Gibson's has sales for the year of $543,400, cost of goods sold equal to 82 percent of sales, and an average inventory of $81,000. The profit margin is 8 percent and the tax rate is 35 percent. How many days, on average, does it take the company to sell an inventory item? Assume 365 days per year.

Multiple Choice

• 54.41 days

• 60.82 days

• 53.08 days

• 71.09 days

• 66.35 days