Consider the case of Little Cow Construction Company: Little Cow Construction Company is a mature firm that has a stable flow of business. The following data was taken from its financial statements last year:

Annual sales $9,900,000 Cost of goods sold $6,435,000 Inventory $2,800,000 Accounts receivable $2,100,000 Accounts payable $2,700,000 Little Cows CFO is interested in determining the length of time funds are tied up in working capital. Use the information in the preceding table to complete the following table. (Note: Use 365 days as the length of a year in all calculations, and round all values to two decimal places.) Value Inventory conversion period Average collection period Payables deferral period Cash conversion cycle