Homework: Homework 7 Question 1, P15-3 (similar to) HW Score: 0%, 0 of 8 points O Points: 0 of 1 Save Multiple changes in cash conversion cycle Gamed industries turns over its inventory 5 times each year, it has an average collection period of 37 days and an average payment period of 28 days. The firm's annual sales are $2.7 milion Assume there is no difference in the investment per dotar of sales in inventory, receivables, and payables; and a 365-day year. a. Calculate the firm's cash conversion cycle, ts daily cash operating expenditure, and the amount of resources needed to support its cash conversion cyde b. Find the firm's cash conversion cycle and resource investment requirement if it makes the folowing charges simultaneously (1) Shortens the average age of inventory by 6 days. (2) Speeds the collection of accounts receivable by an average of 10 days. (3) Extends the average payment period by 9 days. c. If the fem pays 17% for its resource investment, by how much if anything, could it increase its annual profit as a result of the changes in part b d. If the annual cost of achieving the profit in part e is $35,000, what action would you recommend to the firm? Why? a. The firm's cash conversion cycle, CCC, is days. (Round to the nearest whole day.)