Find what is angel corporation cash conversion cycle

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Question 1: Angel Corporation has an average accounts receivable balance of $1,250,000, average inventory balance of $1,750,000, and average accounts payable balance of $800,000. Its annual sales are $12,000,000 and its cost of goods sold represents 80% of annual sales. If there are 365 days in a year. What is Angel Corporation's cash conversion cycle?

Option 1: 72.28 days

Option 2: 84.15 days

Option 3: 100.55 days

Option 4: 60.83 days

Option 5: 53.23 days

Reference no: EM132899784

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