National Co. has P5 million in inventory and P2 million in accounts receivable. Its average daily sales are P250,000. The company has P1.5 million in accounts payable. Its average daily purchases are P50,000. What is the length of the company's inventory conversion period? *

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.