Operating cycle vs cash conversion cycle

[nonrandomguy]

For what’s below, is there a reason they use “average” in one and not the other, or are they the same?
On page 91 in book 4 of 2015 schweser, they define operating cycle and cash conversion cycle as
operating cycle = days of inventory + days of receivables
cash conversion cycle = average days of receivables + average days of inventory - average days of payables

 

[S2000magician]

They’re the same.

 

[Oscar]

One additional remark:
The general rule is that whenever you have a ratio where you divide balance sheet with profit loss data the balance sheet data should be the average of beginning year and end year.
As such for above ratios average receivables, inventories and payables should be used for turnover ratios or for calculating DSO, DIO and DPO. (As done in the CCR above.)
However in some cases or you will only be provided with year end values for balance sheet data. In this case just use the year and values. (As done in the operating cycle above.)
Best,
Oscar