Smith and Teabury Co. ahs forecasted sales of $28.0 million for next year and expects its cost of goods sold (COGS) to remain at 80% of sales. Currently, the firm holds $3.2 million in inventories, $2.3 million in accounts receivable, and $2.5 million in accounts payable. Approximately how long does it currently take smith and Teabury Co. to convert raw materials to its finished products and then to sell them? 52.14 days 54.75 days 39.11 days 57.35 days On average, how long does it take from the time a sale is made until the time cash is collected from customers? Smith and Teabury Co. relies on customer credit when it buys raw materials from its suppliers. How long does it take after the firm purchases materials before it sends cash to its suppliers? What is the length of Smith and Teabury Co. 's cash conversion cycle (CCC)? The management at Smith and Teabury Co. wants to continue its inter4nal discussions related to its cash management. One of the finance team members presents the following case to her cohorts: Which of the following responses to the CFO's statement is most accurate? The CFO is not taking into account the amount of time the company has to pay its suppliers. Generally, there is a certain length of time between the purchase of materials and labor and the payment of cash of them. The CFO can reduce the estimated length of the bank load by this amount of time. The CFO's approximation of the length of the bank loans should be accurate, because it will take 75 days for the company to manufacture, sell, and collect cash for its goods. All these things must occur for the company to be able to repay its loans from the bank