Nordstrom, Inc., operates department stores in numerous states. Selected financial statement data (in millions of dollars) for

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Nordstrom, Inc., operates department stores in numerous states. Selected financial statement data (in millions of dollars) for a recent year are as follows:

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For the year, net sales were \(\$ 3,894\) and cost of goods sold was \(\$ 2,600\).
\section*{Instructions}

(a) Compute the working capital and current ratio at the beginning of the year and at the end of the current year.

(b) Did Nordstrom's liquidity improve or worsen during the year?

(c) Using the data in the chapter, compare Nordstrom's liquidity with Best Buy's.

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Financial Accounting Tools For Business Decision Making

ISBN: 9780471169192

1st Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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