1. The Cristo Candy Corporation carries an average balance of inventory equal to $400,000. The companys cost of goods sold averages $4.5 million. What are Cristos (a) inventory turnover and (b) inventory conversion period?

2. At any point in time, Grandiron Fertilizer generally owes its suppliers $180,000. The companys cost of goods sold averages $2.52 million. What are Grandirons (a) payables turnover and (b) payables deferral period (DPO)?