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Question 12 Thornton Universal Sales' monthly cost of goods sold (COGS) is $2,000,000, and it keeps inventory equal to 30% of its monthly COGS on

Question 12

Thornton Universal Sales' monthly cost of goods sold (COGS) is $2,000,000, and it keeps inventory equal to 30% of its monthly COGS on hand at all times. Using a 365-day year, what is its inventory conversion period?

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