15-3. (Cash conversion cycle) Historical data for the sales, accounts receivable, inventories, and accounts payable for the Crimson Mfg. Company follow:

1. Calculate Crimsons days of sales outstanding and days of sales in inventory for each of the 5 years. What has Crimson accomplished in its attempts to better manage its investments in accounts receivable and inventory?

2. Calculate Crimsons cash conversion cycle for each of the 5 years. Evaluate the firms overall management of its working capital.

2014 2015 2016 2017 2018 Sales-Net 14,310 5,215 7.94411,63918,491 Receivables-Total 617 907 1,0891,355 2,229 Accounts Payable 425671699 1,560 2,465 Inventories-Total 330 440 644 377 350 2014 2015 2016 2017 2018 Sales-Net 14,310 5,215 7.94411,63918,491 Receivables-Total 617 907 1,0891,355 2,229 Accounts Payable 425671699 1,560 2,465 Inventories-Total 330 440 644 377 350