Given the following, which is true? Firm 1-Days Sales Outstanding: 32, Days Sales in Inventory: 67, Days Payable Outstanding: 25 Firm 2-Days Sales Outstanding: 17, Days Sales in Inventory: 40, Days Payable Outstanding: 35 Firm 3-Days Sales Outstanding: 38, Days Sales in Inventory: 34, Days Payable Outstanding: 15 Firm 1 has the shortest cash conversion cycle Firm 1 has the longest operating cycle and cash conversion cycle Firm 3 has the longest operating cycle Firm 3 has the shortest cash conversion cycle Firm 2 has the shortest operating cycle but the longest cash conversion cycle + Previous Next