The inventory conversion period (ICP) refers to thelength of time it takes to pr

The inventory conversion period (ICP) refers to thelength of time it takes to produce and sell inventory; that is theamount of time a product remains in inventory.average amount of time it takes the firm to pay itssuppliers.total length of time it takes the firm to produce inventory sellthe inventory and collect for the sale when inventory is sold oncredit.average dollar amount of product that a firm normally holds ininventory.