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You are consulting for Grey Grey Grey Corporation. Using the following information and a 365-day year find the Average Payment Period for the company. Ending

You are consulting for Grey Grey Grey Corporation. Using the following information and a 365-day year find the Average Payment Period for the company.

Ending balance in Inventory $185,000

Annual Sales $1,100,000

Annual COGS $350,000

Ending Balance in A/R $315,000

Ending Balance in A/P $150,000

a. 296 days

b. 156 days

c. 174 days

d. 50 days

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