If a firm's inventory turnover ratio is 5 days, which of the following statements is correct? Multiple Choice O O O O It takes 5 days on average to collect receivables. The firm has sufficient inventories to maintain sales for 73 days. Inventory is converted into sales every 50 days. Assets are converted into sales every 5 days.

If a firm's inventory turnover ratio is 5 days, which of the following statements is correct? Multiple Choice It takes 5 days on average to collect receivables. The firm has sufficient inventories to maintain sales for 73 days. Inventory is converted into sales every 50 days. Assets are converted into sales every 5 days