1. Thornton Universal Sales' cost of goods sold (COGS) average $2,000,000 per month, and it keeps inventory equal to 50% of its monthly COGS on hand at all times. Using a 365-day year, what is its inventory conversion period?
2. What are the different forms of financial Exchange and their function as well as benefits?
3. How have actively managed funds performed relative to passive funds? Discuss the values provided to investors of active funds.