iven the following information, calculate the operating cycle. Use average inventory, receivables, and payables in your calculations. Credit sales = $1,000,000 Cost of goods sold = $750,000 Beginning balances: Inventory = $300,000 Accounts Receivable = $280,000 Accounts Payable = $260,000 Ending balances: Inventory = $280,000 Accounts Receivable = $250,000 Accounts Payable = $240,000