Lost Pigeon Aviation is a mature firm that has a stable flow of business. The following data was taken from its financial statements last year: Lost Pigeon's CFO is interested in determining the length of time funds are tied up in working capitali, Use the information in the preceding table t answer the following questions. (Note: Use 365 days as the length of a year in all calculations, and round all values to two decimal places.) What is the value of the inventory conversion period? 189.15 days 43.80 days 53.54 days 51.10 days Both the inventory conversion period and payables deferral period use the average dally coos in their denominators, whereas the average collection period uses average daily sales in its denominator, Why do these measures use different inputs? Current assets should be divided by sales, but current llablitities should be divided by the coGs. Inventory and accounts payable are carried at cost on the balance sheet, whereas accounts recelvable are recorded at the price ot which goods are sold. What is the average collection period? 28.11days24.27days80.68days29.38days What is the payables deferral period? 48.97days44.71days165.51days51.10days What is the cash conversion cycle? 39.55 days 104.32 days 34.80 days 37.97 days