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Problem 15-3 (similar to) Question Help (Cash conversion cycle) Historical data for the firm's sales, accounts receivable, inventories, and accounts payable for the Crimson Mfg. Company follow: 2 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 ycar 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) i Data Table (Click on the following icon in order to copy its contents into a spreadsheet.) Sales-Net Receivables-Total Acounts payable Inventories-Total 2014 4,314 626 450 349 2015 5,200 808 676 445 2016 7.964 1.005 096 846 2017 11,638 1,344 1,514 323 2018 18,474 2.294 2,432 366 Print Done Enter your answer in the edit fields and then click Check Answer. ? 4 remaining 4 parts Clear All Check