Answered step by step
Verified Expert Solution
Question
1 Approved Answer
In fiscal 2017 and 2016, Este Lauders financial statements included the following items. $ millions 2017 2016 Inventory $ 1,479 $ 1,264 Receivables 1,395 1,258
In fiscal 2017 and 2016, Este Lauders financial statements included the following items.
$ millions | ||||||
2017 | 2016 | |||||
Inventory | $ | 1,479 | $ | 1,264 | ||
Receivables | 1,395 | 1,258 | ||||
Payables | 2,634 | 2,349 | ||||
Sales | 11,824 | 11,262 | ||||
Cost of goods sold | 2,437 | 2,181 | ||||
What was its cash cycle? Assume 365 days in a year. (Do not round intermediate calculations. Round your answer to the nearest whole number. Negative amounts should be indicated by a minus sign.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started