Bakers Dozen Inc.
The Balance Sheet and Income Statement of Baker Dozen Inc. as of and for the twelve months ended December 31, 2015 shows the following information (in thousands):
Opening (Prior Period) and Ending balances
Accounts Receivable Opening $4,155, Ending. $4,650
Accounts Payable Opening $5,200, Ending $5,750
Inventory Opening $2,150, Ending 3,150
Sales on Credit (12months) $57,450
Cost of Goods Sold (COGS) (12 months) 45,100
QUESTION: Using this information, how many days were in the Inventory Conversion Period in 2015?
21 days
45 days
15 days
None of the above