Please show all work for this assignment and explain your derivations. Lack of step by step work will not be credited. Partial credit will be given for step by step description of answer(s). Calculation: In the month of January, Reliance® Auto sold 60 vehicles and had account receivable of $160,000.00. If a vehicle costs $40,000, account payable is $240,000 and the cost of sales is 72%, and the current value of total inventory is $500,000.00, Calculate;

    The average daily sales (1 point)
    The average days of accounts receivable (1 point)
    The average daily cost of sales (1 point)
    The average days of inventory (1 point)
    Cash to cash cycle time (1 point)