Life Industries Has Sales of $46,230, Costs of Goods Sold

Multiple Choice

Life Industries has sales of $46,230, costs of goods sold of $27,742.50, inventory of $675, and accounts receivable of $2,300. How many days, on average, does it take Life Industries to sell the inventory and collect the payment on the sale?

A) 9.28 days
B) 21.00 days
C) 27.04 days
D) 36.67 days
E) 61.20 days