Columbia Sportswear is an outdoor and active lifestyle apparel and footwear company. Assume that last year, Columbia reported cost of goods sold of $941 million. This year, cost of goods sold was $1,146 million. Accounts payable was $174 million at the end of last year and $214 million at the end of this year.

Required:

1. For this year, compute the average number of days that Columbia’s accounts payable are outstanding.

2. Assume the apparel and footwear industry reports an average number of days that accounts payable are outstanding of 72. Comment on Columbia’s number relative to the industry average.