The total sales (all credit) of a firm is Rs.640000, it has a gross profit margin of 15 per cent and current ratio of 2.5. The Einm's aiment liabilities are Rs.96000, inventories Rs.48000 and cash Rs. 16000. a. Determine the average inventory to be carried by the firm, if an inventory turnover of 5 times is expected? (Assume a 360-day per year) 14 Marks] Determine the average collection period if the opening balance of debtors is intended to be of Rs.80000? (Assume a 360- day per year) 4 Marks]