20. A manufacturing company is working to decrease its cash conversion cycle. The firm has increased inventory levels to support it sales growth. They have increased their inventory turnover from 2.5 times to 3.3 times per year. The company has a days' payable of 20 and a days' receivable of 45 with normal credit terms of Net 30 . The company wishes to decrease its cash conversion cycle and can which of the following to do so? I. Increase the DPOs by paying vendors in later II. Decrease the DPOs by paying vendors sooner III. Enforce tougher restrictions on current customers to collect closer to the Net 30 terms IV. Adopt of less restrictive credit policy with their customers a. I and III b. II and IV c. IV only d. I, II and