1.[EXCEL] Cash conversion cycle: Wolfgang's Masonry management estimates that it takes the company 27 days on average to pay its suppliers. Management also knows that the company has days' sales in inventory of 64 days and days' sales outstanding of 32 days. How does Wolfgang's cash conversion cycle compare with the industry average of 75 days?

2.[EXCEL] Cash conversion cycle: Northern Manufacturing Company management found that during the last year it took an average of 47 days to pay its suppliers, whereas it took 63 days to collect its receivables. The company's days' sales in inventory was 49 days. What was Northern's cash conversion cycle?

3.[EXCEL] Cash conversion cycle: Devon Automotive management estimates that it takes the company 62 days to collect cash from customers on finished goods from the day it receives raw materials, and it takes 65 days to pay its suppliers. What is the company's cash conversion cycle? Interpret your answer.

4.[EXCEL] Operating cycle: Lilly's Bakery distributes its products to more than 75 restaurants and delis. The company's average collection period is 27 days, and it keeps its inventory for an average of four days. What is Lilly's operating cycle?

5.[EXCEL] Operating cycle: NetSpeed Technologies is a telecom component manufacturer. The firm typically has a collection period of 44 days and days' sales in inventory of 29 days. What is the operating cycle for NetSpeed?