1. Houston Corporation has an inventory conversion period of 60 days (DII), a receivables collection period of 36 days (DSO), and a payable deferral period of 24 days (DPO). a. What is the length of the companys cash conversion cycle? b. If Houstons annual sales are $3,960,000 and all sales are on credit, what is the average balance in accounts receivable? c. How many times per year does Houston turn over its inventory? (week 5) d. What would happen to Houstons cash conversion cycle if, on average, inventories could be turned over eight times a year? 2. Webber Corporation carries an amount of receivables equal to $80,000, and its annual credit sales equal $2.4 million. What is the receivables collection period (DSO)? 3. Cleary Enterprises owes its suppliers $180,000. The companys cost of goods sold averages $2.52 million. What is Clearys payables deferral period (DPO)? 4. Willowman Furniture Company has inventory that equals $48 million. If the inventory turnover for the company is 8, what is the inventory conversion period and cost of goods sold?