Chastain Corporation is trying to determine the effect of its inventory turnover ratio and days sales outstanding (DSO) on its cash conversion cycle....

Chastain Corporation is trying to determine the effect of its inventory turnover ratio and days sales outstanding (DSO) on its cash conversion cycle. Chastain's 2016 sales (all on credit) were $220,000; its cost of goods sold is 80% of sales; and it earned a net profit of 8%, or $17,600. It turned over its inventory 7 times during the year, and its DSO was 31 days. The firm had fixed assets totaling $41,000. Chastain's payables deferral period is 35 days. Assume 365 days in year for your calculations.

Calculate Chastain's cash conversion cycle.