1. Assume that there are 365 days per year when converting from annual to daily amounts or vice versa. The Stowe Manufacturing Company's balance sheet and income statement for last year are as follows: "Assume that average rwentory orer the year was $2,120 milion, that is, the same as anding rventory. Determine a. Inventory conversion period b. Receivables conversion period c. Operating cycle d. Payables deferral period e. Cash conversion cycle