Data on Shin Inc for 2008 are shown below, along with the inventory conversion period (ICP) of the firms against which it benchmarks. The firm’s new CFO believes that the company could reduce its inventory enough to reduce its ICP to the benchmarks’ average. If this were done, by how much would inventories decline? Use a 365-day year. Note: This question is worth 2 points.,Cost of goods sold = $78,000,Inventory = $20,000,Inventory Conversion Period (ICP) = 93.59,Benchmark Inventory Conversion Period (ICP) = 38.00,,
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