Frosty Corporation Has the Following Data, in Thousands A) 25 Days
B) 28 Days
C) 31 Days
D)

Multiple Choice

Frosty Corporation has the following data, in thousands.Assuming a 365-day year, what is the firm's cash conversion cycle? $\begin{array}{lr}\text { Annual sales }= & \$ 45,000 \\\text { Annual cost of goods sold = } & \$ 31,500 \\\text { Inventory }= & \$ 4,000 \\\text { Accounts receivable }= & \$ 2,000 \\\text { Accounts payable }= & \$ 2,400\end{array}$

A) 25 days
B) 28 days
C) 31 days
D) 35 days
E) 38 days