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What is its inventory conversion period

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Your firm's cost of goods sold (COGS) average $2,000,000 per month, and it keeps inventory equal to 80% of its monthly COGS on hand at all times. Using a 365-day year, what is its inventory conversion period?

23.8 days

21.2 days

24.3 days

26.0 days

23.6 days

Reference no: EM13525105

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