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E14.7 (LO 3), AP Nordstrom, Inc. operates department stores in numerous states. Suppose selected Compute financial statement data (in millions) for 2020 are presented below.
E14.7 (LO 3), AP Nordstrom, Inc. operates department stores in numerous states. Suppose selected Compute financial statement data (in millions) for 2020 are presented below. End of Year S 795 2,035 898 326 $4,054 Beginning of Year Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets $ 72 1,942 900 303 $3,217 Total current liabilities $2,014 $1,601 For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities was $1,251 million. Instructions Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory at the end of the current year
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