Changing cash conversion cycle Camp Manufacturing turns over its inventory $5$ times each year, has an average payment period of $31$ days, and has an average collection period of $57$ days. The firm has annual sales of $$4\mathrm{.}0$ million and cost of goods sold of $$2\mathrm{.}2$ million. $($Use a $365-$day year.$)$

a$.$ Calculate the firm's operating cycle and cash conversion cycle.

b$.$ What is the dollar value of inventory held by the firm?

c$.$ If the firm could reduce the average age of its inventory from $73$ days to $63$ days, by how much would it reduce its dollar investment in working capital?

a$.$ Camp's operating cycle, OC$,$ is $$ days. $($Round to the nearest whole number.$)$

Camp's cash conversion cycle, CCC$,$ is $$ days. $($Round to the nearest whole number.$)$

b$.$ The dollar value of inventory held by the firm is $ $($Round to the nearest dollar.$)$

c$.$ If the firm could reduce the average age of its inventory from $73$ days to $63$ days, it would reduce its dollar investment in working capital by $ $($Round to the nearest dollar.$)$