The inventory turnover of Long Corporation is 16×, and its closing inventory is $20,000. Assuming there are 360 days in a year, compute the company's inventory conversion period. (Give answer to one decimal place.)
A. 22.5 days
B. 24.2 days
C. 3.5 days
D. 42.8 days
E. 55.5 days
Answer: A
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