The Flower Shoppe Has Accounts Receivable of $3,709, Inventory of $4,407

Multiple Choice

The Flower Shoppe has accounts receivable of $3,709, inventory of $4,407, sales of $218,640, and cost of goods sold of $167,306. How many days does it take the firm to both sell its inventory and collect the payment on the sale assuming that all sales are on credit?

A) 14.67 days
B) 15.81 days
C) 16.23 days
D) 17.18 days
E) 17.47 days