fiscal 2017 and 2016, Estée Lauder's financial statements included the following items. Inventory Receivables $ millions Payables Sales Cost of goods sold 2017 2016 $1,583 $ 1,264 1,242 1,258 2,924 2,349 14,071 11,262 2,876 2,181 What was its cash cycle? Assume 365 days in a year. (Negative amounts should be indicated by a min und intermediate calculations. Round your answer to the nearest whole number.)

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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In fiscal 2017 and 2016, Estée Lauder's financial statements included the following items.
Inventory
Receivables
$ millions
Payables
Sales
Cost of goods sold
Cash cycle
2017
2016
$ 1,583 $ 1,264
1,242
1,258
2,924
2,349
14,071
11, 262
2,876
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.)
(228) days
Transcribed Image Text:In fiscal 2017 and 2016, Estée Lauder's financial statements included the following items. Inventory Receivables $ millions Payables Sales Cost of goods sold Cash cycle 2017 2016 $ 1,583 $ 1,264 1,242 1,258 2,924 2,349 14,071 11, 262 2,876 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.) (228) days
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