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CHAPTER 18: HOMEWORK WITH VIDEO ASSISTANCE Question 3 Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022

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CHAPTER 18: HOMEWORK WITH VIDEO ASSISTANCE Question 3 Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022 are presented below. For the year, net credit sales were $11,550 million, cost of goods sold was $7,410 million, and net cash provided by operating activities was $1,265 million. Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory for the current year. (Round Current ratio to 2 decimal places, eg. 1.62 and all other answers to 1 decimal place, e.g. 1.6.)

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