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(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 yoar. 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 CO 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) Malha ON AND tanta in accou SC - - X Data table ay ye (Click on the following icon in order to copy its contents into a spreadsheet.) sd find 5-day tst Sales-Net ReceivablesTotal Acounts payable Inventories-Total 2014 4,357 630 445 328 2015 5,297 799 682 441 2016 7,951 1,024 683 634 2017 11,652 1,377 1,573 385 2018 18,496 2,228 2,409 342 Print Done