What is its inventory conversion period-cost of goods sold

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Reference no: EM13911611

Mumford and Sons' cost of goods sold (COGS) average $2,000,000 per month, and it keeps inventory equal to 42.74% of its monthly COGS on hand at all times. Using a 365-day year, what is its inventory conversion period?

11.7 days

13.0 days

14.4 days

15.2 days

16.7 days

Reference no: EM13911611

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