Homework: Homework Set 4 Question 21, P14-2 (simi.. Par I i 4 HW Score: 19.17%, 9.58 of 50 points O Points: 0 of 2 Save Changing cash conversion cycle Comp Manufacturing tums over its inventory 5 times each year, has an average payment period of 40 cays, and hes an average collection period of 58 days. The firm has annual sales of $3.7 milion and cost of goods sold or $2.3 millon. (Use a 263-day year) a. Calculate the firm's operating cycle and cash conversion cycle. b. What is the dollar value of inventory held by the firm? c. If the film could reduce the average age of its Inventory from 73 days to 63 days by how much would it reduce its dollar investment in wordng capital? a. Camp's operating cycle, OC, is days. (Round to the nearest whole number.)