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1.3 REQUIRED Use the information provided below to calculate the cash conversion cycle. (Assume a 360-day year.) (5 marks) INFORMATION The following information was obtained from the records of Coastal Traders for 2019: Total sales for the year (50% on credit) R3 312 000 Credit purchases for the year R1 188 000 Inventories on 31 December 2019 R32 400 Amount owing by debtors on 31 December 2019 R180 000 Amount owing to creditors on 31 December 2019 R50 400 Average age of inventories 18 days