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People Products, Inc., has concerns about managing cash efficiency. Their averages are 90 days for inventories, accounts receivable are collected in 45 days, accounts payable
People Products, Inc., has concerns about managing cash efficiency. Their averages are 90 days for inventories, accounts receivable are collected in 45 days, accounts payable are 40 days after they arise, annual sales are $50 million, goods sold total $25 million and purchases are $10 million. Calculate the length of the firms cash conversion cycle
(Round to the nearest tenth.)
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