Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In fiscal 2017 and 2016, Este Lauder's financial statements included the following items. $ millions Inventory Receivables Payables Sales Cost of goods sold 2017 2016

image text in transcribed

In fiscal 2017 and 2016, Este Lauder's financial statements included the following items. $ millions Inventory Receivables Payables Sales Cost of goods sold 2017 2016 $ 1,405 $ 1,264 1,214 1,258 2,924 2,349 11,469 11, 262 2,071 2,181 What was its cash cycle? Assume 365 days in a year. (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to the nearest whole number.) Cash cycle days

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Markets And Institutions

Authors: Frederic S. Mishkin

2nd Edition

0321014650, 9780321014658

More Books

Students also viewed these Finance questions

Question

Evaluate 3x - x for x = -2 Answer:

Answered: 1 week ago