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D Question 11 5 pts Data on Liu Inc. for the most recent year are shown below, along with the inventory conversion period (ICP) of the firms against which it benchmarks The firm's new CFO believes that the company could reduce its inventory cnough to reduce its ICP to the benchmarks' wenge. If this were done by how much would inventories decline? Use a 365-day year. $85,000 Cost of goods sold = $20,000 Inventory = 85.88 Inventory conversion period (ICP) = 38.00 Benchmark inventory conversion period (ICP) = O $7,316 O $8,129 O $11,151 O $9,032 Spos