A company has the following financial data: average inventory of $200,000, average accounts receivable of $150,000, average accounts payable of $100,000, annual sales of $1,800,000, and COGS of $1,200,000. Calculate the inventory turnover, receivables turnover, and payables turnover ratios. Determine the days inventory outstanding (DIO), days sales outstanding (DSO), and days payables outstanding (DPO). Calculate the cash conversion cycle (CCC). Discuss the significance of CCC in working capital management and liquidity analysis. Analyze the implications of a high or low CCC for the company's cash flow and operational efficiency. Consider the strategic importance of optimizing CCC, including managing inventory levels, improving receivables collection, and negotiating favorable payment terms with suppliers. Discuss the role of CCC in financial planning, budgeting, and performance evaluation. Explain how CCC can be used to benchmark performance against industry peers and identify areas for improvement in working capital management.