You have recently been hired to improve the performance of Multiplex Corporation which has been experiencing a severe cash shortage. As one part of your analysis, you want to determine the firm's cash conversion cycle. Using the following information and a 360-day year, what is your estimate of the firm's current cash conversion cycle?

Current inventory = $120,000

Annual sales = $600,000

Accounts receivable = $160,000

Accounts payable = $25,000

Total annual purchases = $360,000

Purchases credit terms: net 30 days

Receivables credit terms: net 50 days