(Cash conversion cycle) Historical data for the firm's sales, accounts receivable, inventories, and accounts payable for the Crimson Mfg. Company follow: 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. .. 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.) Sales-Net ReceivablesTotal Acounts payable InventoriesTotal 2014 4,379 601 444 350 2015 5,266 793 671 445 2016 7,993 1,082 701 658 2017 11,632 1,303 1,587 366 2018 18,441 2.282 2,484 366 Print Done