PROBLEM #8 The current assets of Trisikstin Enterprise consist of cash, accounts receivable and inventory. The following information is available. Credit sales 75% of total sales Inventory turnover 5 times Working capital P1,120,000 Current ratio 2 to 1 Quick ratio 1.25 to 1 Average collection period 42 days Accounts Payable Turnover 10 times Working days 360 days Compute for the following 1. The estimated inventory amounts 2. Cash conversion cycle