Question: MULTIPLE CHANGES IN CASH CONVERSION CYCLE Garrett Industries turns over its inventory six times each year; it has an average collection period of 45 days

MULTIPLE CHANGES IN CASH CONVERSION CYCLE Garrett Industries turns over its inventory six times each year; it has an average collection period of 45 days and an average payment period of 30 days. The firms annual sales are $3 million.

Calculate the firms operating cycle and its cash conversion cycle.

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