Problem:
Zocco Corporation has an inventory conversion period of 69 days, an average collection period of 37 days, and a payables deferral period of 35 days. Assume there are 365 days in a year for your calculations.
Required:
Question: How many times per year does Zocco turn over its inventory? Assume that cost of goods sold is 75% of sales.
Note: Please answer in proper manner and show all computations