Case 4. FastFashion Corp. (FFC), a company in the fast fashion industry, had $20 million in sales in 2019. In the same year, the income statements reports a COGS (cost of goods sold) of $8 million, while the average inventory balance was $2,000,000. a. Calculate the average number of inventory days outstanding for FFC. b. The average days of inventory in the industry is 73 days. By how much would FFC reduce its investment in inventory if it could improve its inventory days to meet the industry average? c. FFC purchases goods from its supplier on terms of 3/15, Net 40. What is the effective annual cost to the firm if it chooses not to take the discount and makes its payment on day 40? d. What is the effective annual cost to the firm if it chooses not to take the discount and makes its payment on day 50?