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

1. which one of the following would be an example of a supply-side market failure? a. a gas station is slowly leaking diesel fuel from its underground tanks, and after the leak is discovered, the business immediately cleans up the pollution at its own expense. b. a gas station is slowly leaking diesel fuel from its underground tanks, but the state uses taxpayer money to clean up the pollution rather than requiring the business to pay. c. your business wants to attract repeat customers by putting on a customer-appreciation picnic at a public park, but you decide not to because you couldn't prevent noncustomers from consuming the food and entertainment you provided. d. everyone rushes to the local retail outlet at midnight on the day of the release of a new video game console, and the store runs out before everyone is able to buy one.