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(Cash conversion cycle) Historical data for the firm's sales, accounts receivable, inventories, and accounts payable for the Crimson Mfg. Company follow: 8 a. Calculate Crimson's days of sales outstanding, days of payables outstanding, and days of sales in inventory for each of the 5 years. (Assume a 365-day year. Hint: Assume that the firm's cost of goods sold equals 70% of sales.) What has Crimson accomplished in its atempts to better manage its investments in account receivable and inventory? b. Calculate Crimson's cash conversion cycle for each of the 5 years. Evaluate the firm's overall management of its working capital. Assume a 365-day year. C. a. Calculate Crimson's days of sales outstanding, days of payables outstanding, and days of sales in inventory for each of the 5 years. Assume a 365-day year. Hint: Assume that the firm's cost of goods sold equals 70% of sales. (Round to two decimal places.) 2014 2015 2016 2017 2018 Days of sales outstanding (DSO) - Data table (Click on the following icon in order to copy its contents into a spreadsheet.) 2014 2015 2016 2017 SalesNet 4,346 5,228 7,969 11,612 Receivables-Total 625 818 1,072 1,360 Acounts payable 436 666 699 1,596 InventoriesTotal 330 452 643 380 2018 18,427 2,262 2,439 343 Print Done

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