ABC Optical began 20X1 with accounts receivable of \(\$ 44800\) and inventory of \(\$ 56000\). During \(20 \mathrm{X} 1\) the business made total net sales of \(\$ 840000\), of which 70 per cent were credit sales. The business' cost of goods sold averaged 60 per cent of total net sales during 20X1. ABC Optical was open for business each day of the year, and at the end of the year it had accounts receivable of \(\$ 50400\) and inventory of \(\$ 84000\).

Required:

a Calculate the inventory turnover and the number of days in the selling period for 20X1.

b Calculate the accounts receivable turnover and the number of days in the collection period for 20X1.

c What is your estimate of the number of days in the business' operating cycle during 20X1?