Red Pencil Office Supplies is a mature firm that has a stable flow of business. The following data was taken from its financial statements last year: Annual sales $9,500,000 Cost of goods sold $6,460,000 Inventory $3,200,000 Accounts receivable $2,100,000 Accounts payable $2,500,000 Red Pencil's CFO is interested in determining the length of time funds are tied up in working capital. Use the information in the preceding table to 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? 54.66 days 51.79 days 46.03 days O 180.80 days What is the cash conversion cycle? 120.23 days 37.07 days 44.87 days 42.92 days