Business, 07.05.2021 22:00 daniecott

Ridgdill Industries currently has $51,500 in cash, $60,000 in accounts receivable, $63,750 in inventories, $12,500 in accrued liabilities, and $90,000 in accounts payable on its balance sheet. The firm's production manager has determined that cost of goods sold account for 75% of the sales revenue produced. Furthermore, the firm has determined that the length of the firm's cash conversion cycle is 20 days. Ridgill’s CFO is interested in determining the length of time funds are tied up in working capital. Use the information given above to answer the following questions. (Note, Use 365 days as the length of a year in all calculations, and round all values to two decimal places.)
What is Ridgill’s inventory conversion period? *
a. 20 days
b. 48 days
c. 68 days
d. 96 days
e. None of the above

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Ridgdill Industries currently has $51,500 in cash, $60,000 in accounts receivable, $63,750 in invent...