Your firm's 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. 15.2 days
B. 14.0 days
C. 15.7 days
D. 13.7 days
E. 14.8 days
Answer: A
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