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Exercise 14-7 Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2020 are presented below. End of Year
Exercise 14-7 Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2020 are presented below. End of Year Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets Total current liabilities $ 881 2,200 1,000 359 Beginning of Year $ 79 2,100 1,000 333 $3,512 $4,440 $2,220 $1,761 For the year, net credit sales were $9,030 million, cost of goods sold was $5,900 million, and net cash provided by operating activities was $1,252 million. Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory at the end of the current year. (Round answers to 1 decimal place, e.g. 1.6.) Current ratio :1 Accounts receivable turnover times Average collection period days Inventory turnover times Days in inventory days
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