Nordstrom, Inc. operates department stores in numerous states. Selected financial statement data (in millions) for 2007 are
Question:
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For the year, net credit sales were $8,828 million, cost of goods sold was $5,526 million, and cash from operations was $161 million.
Instructions
Compute the current ratio, current cash debt coverage ratio, receivables turnover ratio, average collection period, inventory turnover ratio, and days in inventory at the end of the currentyear.
Inventory Turnover RatioThe inventory turnover ratio is a ratio of cost of goods sold to its average inventory. It is measured in times with respect to the cost of goods sold in a year normally. Inventory Turnover Ratio FormulaWhere,...
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Current ratio 2061 3361 1635 Current cash debt coverage ratio 1...View the full answer
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Related Book For 
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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