Data from Keniston Corporation's Most Recent Balance Sheet and Income

Multiple Choice

Data from Keniston Corporation's most recent balance sheet and income statement appear below: $$\begin{array} { | l r | r | } \hline & \text { This Year } & \text { Last Year } \\\hline \text { Accounts receivable } & \$ 128,000 & \$ 114,000 \\\hline \text { Inventory } & \$ 228,000 & \$ 193,000 \\\hline \text { Sales on account } & \$ 813,000 & \\\hline \text { Cost of goods sold } & \$ 597,000 & \\\hline\end{array}$$ The average collection period for this year is closest to:

A) 39.1 days
B) 45.1 days
C) 54.3 days
D) 57.5 days