E4-31. Compute Cash Conversion Cycle for Competing Firms Halliburton and Schlumberger compete in the oil field services sector. Refer to the following 2018 financial data for the two companies to answer the requirements. $ millions HAL SLB Total revenue . . $23,995 $32,815 Cost of sales and services . 21,009 28,478 Average accounts receivable . . 5, 135 7,983 Average inventory. ...... 2,712 4,028 Average accounts payable . . .. 2,786 10, 130 a. Compute the following measures for both companies. HAL SLB 1. Days sales outstanding (DSO) 2. Days inventory outstanding (DIO) 3. Days payables outstanding (DPO) 4. Cash conversion cycle (CCC) HAL SLB b. Which company better manages its accounts receivable? c. Which company uses inventory more efficiently? d. Which company better manages its accounts payable