68.Belle Corporation provided the following data are for the year ended Dec. 31, 2017:
Net credit sales P576,000
Average materials inventory 8,000
Average finished goods inventory 12,000
Average accounts receivable 80,000
Average accounts payable 5,000
Net credit purchases 120,000
Raw materials used 96,000
Gross profit rate 25%
Number of days in a year 360 days
What is the average number of days in the company’s operating cash conversion cycle?
a. 50 days c. 105 days
b. 75 days d. 45 days
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