Data on b Inc for last 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 enough to reduce its

ICP to the benchmarks' average. If this were done, by how much would inventories decline? Use a 365-day year. Do

not round your intermediate calculations.

Cost of goods sold = $78.000

Inventory= $20,000

Inventory Conversion Period (ICP)= 93.59

*Benchmark Inventory Conversion Period (ICP)=38.00

O $12,949

O $12.711

O $11,285

O $12,236

$11.879