Red Hamster Manufacturing Corporation has forecasted sales of $27,000,000 for next year and expects its cost of goods sold (COGS) to remain at 70% of sales. Currently, the firm holds $2,800,000 in inventories, $2,200,000 in accounts receivable, and $2,700,000 in accounts payable. Approximately how long does it take Red Hamster Manufacturing to convert its raw materials to its finished products and then to sell those goods? (Note: Use 365 days as the length of a year in all calculations, and round all values to two decimal places.) 51.37 days 54.07 days 59.48 days 45.96 days On average, it takes from the time a sale is made until the time cash collected from customers. after the Red Hamster Manufacturing relies on customer credit when it buys raw materials from its suppliers. On average, it takes firm purchases materials before it sends cash to its suppliers. The length of Red Hamster Manufacturing's cash conversion cycle (CCC) is In general, firms prefer a CCC What is the length of Red Hamster Manufacturing's cash conversion cycle (CCC)? 36.42 days 33.25 days 31.67 days 39.59 days In general, firms prefer a shorter CCC