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What is inventory conversion period for thornton universal

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Reference no: EM132672255

Problem 1: Thornton Universal Sales' 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. 16.7 days
b. 15.2 days
c. 11.7 days
d. 14.4 days
e. 13.0 days

Reference no: EM132672255

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