Multiple Choice
Thornton Universal Sales's cost of goods sold (COGS) average $2,000,000 per month, and it keeps inventory equal to 50% of its monthly COGS on hand at all times Using a 365-day year, what is its inventory conversion period?
A) 11.7 days
B) 13.0 days
C) 14.4 days
D) 15.2 days
E) 16.7 days
Correct Answer:
Verified
Correct Answer:
Verified
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