Which one of the following is the correct sequence of various stages of operating cycle of a manufacturing company?

A

Raw material conversion period, Work-in-progress conversion period, Finished goods conversion period, Receivable conversion period
B

Raw material conversion period, Work-in-progress conversion period, Credit payment conversion period, Receivable conversion period
C

Credit payment conversion period, Raw material conversion period, Receivable conversion period, Work-in-progress conversion period
D

Raw material conversion period, Finished goods conversion period, Work-in-progress conversion period, , Receivable conversion period