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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 Beginning of Year Cash and cash equivalents Accounts receivable (net) Inventory Other current assets $ 965 2,300 1,000 375 $ 83 2,200 1,000 349 $3,632 Total current assets $4,640 Total current liabilities $2,320 $1,841 For the year, net credit sales were $9,450 million, cost of goods sold was $6,100 million, and net cash provided by operating activities was $1,264 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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