P15-1 (similar to) Question Help Cash conversion cycle American Products is concerned about managing cash efficiently. On the average, inventories have an age of 83 days, and accounts receivable are collected in 42 days. Accounts payablo are paid approximately 35 days after they arise. The firm has annual sales of about $33 milion Cost of goods sold are $19 million, and purchases are $15 milion a. Calculate the firm's operating cyclo. b. Calculate the firm's cash conversion cycle c. Calculatotho amount of resources needed to support the firm's cash conversion cyclo d Discuss how management might be able to reduce the cash conversion cyde