Multiple Choice
Sherwood Packing had sales of $3.2 million and a gross profit margin of 35% last year. If Sherwood's inventory averaged $0.4 million last year, what was the length of the inventory conversion period?
A) 130.4 days
B) 70.2 days
C) 195.5 days
D) 45.6 days
Correct Answer:
Verified
Correct Answer:
Verified
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