Pascarelli Corporation's inventory at the end of Year 2 was $146,000 and its inventory at the end of Year 1 was $175,000. Cost of goods sold amounted to $985,000 in Year 2. The company's average sale period for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.)

A) 53.3 days
B) 54.1 days
C) 59.4 days
D) 65.5 days

Average Sale Period

The average time it takes for a company to complete a sale, from initiating contact with a client to closing the deal.

Cost of Goods Sold

Direct financial responsibilities stemming from the fabrication of goods a company sells, incorporating materials and labor.

Inventory

Items held by a company awaiting sale or use in production, including raw materials, work-in-progress, and finished goods.