Data on Shin Inc for 2013 are shown below, along with the inventory conversion period (ICP) of the firms against w it benchmarks. The firm's new CFO believes that the company could reduce its inventory enough to reduce its ICP benchmarks' average. If this were done, by how much would inventories decline? Use a 365-day year.
Cost of goods sold =
$85,000
Inventory =
$20,000
Inventory conversion period (ICP) =
85)88
Benchmark inventory conversion period (ICP) =
38)00
A) $ 7,316
B) $ 8,129
C) $ 9,032
D) $10,036
E) $11,151

Question

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The Answer of Data on Shin Inc for 2013 are shown below, along with the inventory conversion period (ICP) of the firms against w it benchmarks. The firm's new CFO believes that the company could reduce its inventory enough to reduce its ICP benchmarks' average. If this were done, by how much would inventories decline? Use a 365-day year.
Cost of goods sold =
$85,000
Inventory =
$20,000
Inventory conversion period (ICP) =
85)88
Benchmark inventory conversion period (ICP) =
38)00
A) $ 7,316
B) $ 8,129
C) $ 9,032
D) $10,036
E) $11,151

Data on Shin Inc for 2013 Are Shown Below, Along