Lecture lllustration - Working Capital (Cash Conversion Cycle) The data for Sharm trading Company across the last 6 years have been provided 2012 2013 2014 2016 2017 Sales Receivable Accounts Payable Invento 2900 511 287 3100 677 309 3400 752 509 3500 765 573 4100 801 675 4900 908 566 230 300 390 459 597 609 Since Sharm trading saw an increase in sales, the management decided to hold more inventories Assuming the cost of goods sold is 60 percent of sales Calculate the number of days of sales outstanding in receivables, days of sales in inventory, and days- payable outstanding for each year. What patterns do you note? Evaluate the company's strategy in holding more inventories and its overall working capital management a. b