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You have the following balance sheet and income statement information for Epic Corp.: Line item Amount Accounts receivable (A/R) $2,160 Inventory $4,080 Accounts payable (A/P)

You have the following balance sheet and income statement information for Epic Corp.:

Line item Amount
Accounts receivable (A/R) $2,160
Inventory $4,080
Accounts payable (A/P) $1,110
Sales $6,800
Cost of goods sold $5,440

All sales and purchases were on credit. 1. What is the firm's days' sales in inventory (in days)? 2. What is its average collection period (in days)? 3. What is its average payment period (in days)? 4. How long is the operating cycle (in days)? 5. How long is the cash cycle (in days)?

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