When calculating DPO and DIH in Working Capital schedule, do you base that off of COGS, or COGS + D&A?

I'm working through an exercise right now that lists COGS in an absolute dollar amount on the income statement, and lists D&A as a % of revenue.

What I'm wondering is if you calculate Days Payable Outstanding and Days Inventory Held by using COGS, or COGS + D&A, and why?

Thank you all VERY much as always, MG

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