Multiple Choice
The inventory turnover of Long Corporation is 16, and its closing inventory is $20,000. Assuming there are 360 days in a year, the company's inventory conversion period is:
A) 22.50 days.
B) 24.25 days.
C) 32.50 days.
D) 42.75 days.
E) 50.75 days.
Correct Answer:
Verified
Correct Answer:
Verified
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