Shulman Inc A) 28 Days
B) 32 Days
C) 35 Days
D)

Shulman Inc. has the following data, in thousands. Assuming a 365-day year, what is the firm's cash conversion cycle?
$\begin{array}{lr}\text { Annual sales }= & \$ 45,000 \\\text { Annual cost of goods sold }= & \$ 30,000 \\\text { Inventory }= & \$ 4,500 \\\text { Accounts receivable }= & \$ 1,800 \\\text { Accounts payable }= & \$ 2,500\end{array}$

A) 28 days
B) 32 days
C) 35 days
D) 39 days
E) 43 days