Calculate Inventory Conversion Period, Receivables Conversion Period, the Payment Conversion Period, and the Operating Cycle for Innovation Inc. given the following information. Use 365 to get an average:

1. Inventory = $ 5, 600
2. C O G S = $ 3, 600
3. A / P = $ 2, 100
4. Purchases = $ 3, 250
5. Revenues = $ 4, 500
6. A / R = $ 3, 200
7. Calculate the Cash Conversion Cycle for the above data from Innovation Inc. and graph on a timeline.
8. Can a Cash Conversion Cycle be negative? Why or why not? What does this mean?