Wangley Company has an inventory turnover of 8. Which statement is true?

Wangley has about 2 months of sales in its inventory.

Wangley takes about 46 days from the time an item is sold until Wangley collects the cash.

Wangley takes about one month from the time an item is purchased until the cash is collected from the sale of the inventory.

Wangley sells it inventory 8 times faster than other companies.