Thornton Universal Sales' 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. 16.7 days
b. 13.0 days
c. 15.2 days
d. 11.7 days
e. 14.4 days

Answer rating: 100% (QA)

Annual cost of goods sold 2000000 x 12 Months 24000000 Average ... View the full answer