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SECTION 1 Working capital [10] 1. Please answer each of the following questions: 1.1 Sportz...

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SECTION 1 Working capital [10] 1. Please answer each of the following questions: 1.1 Sportz Goods Pty Ltd has provided you with the following information and requested you to provide them with the requirements as per the information below: The following information was provided: R Sales (25% for cash) Cost of goods sold Purchases (all on credit) Accounts receivable Accounts payable Inventory (1 July 2020) 2 500 000 1 450 000 1 160 000 416 667 145 250 325 000 Required: Calculate the following: a) Average age of inventory (2) b) Average collection period (2) c) Average payments period (2) d) Cash conversion cycle (2) e) Provide 3 recommendations for improving the cash conversion cycle (2)

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