Financial statement information for Bakers World Ltd:

Item------------------ Ending R

Inventory---------------78 500

Accounts receivable---- 42 5001

Accounts payable------ 68 250

Credit sales----------- 800 000

Cost of goods sold----- 495 000

Purchases------------- 520 000

Cash------------------ 20 500

Credit purchases is 80% of total purchases.

Assume a 360-day year.

Q1. Calculate the firms accounts payable period (DPO)

Q2. Calculate the firms cash conversion cycle (CCC)