Zane Corporation has an inventory conversion period of 53 days, an average collection period of 38 days, and a payables deferral period of 23 days. Assume 365 days in year for your calculations.
What is the length of the cash conversion cycle? Round your answer to two decimal places.
________ days
If Zane's annual sales are $4,688,385 and all sales are on credit, what is the investment in accounts receivable? Round your answer to the nearest cent. Do not round intermediate calculations.
$_______
How many times per year does Zane turn over its inventory? Assume that the cost of goods sold is 75% of sales. Use sales in the numerator to calculate the turnover ratio. Round your answer to two decimal places. Do not round intermediate calculations.
___________ times