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Exercise 18-07 Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2020 are presented below. Beginning of Year
Exercise 18-07 Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2020 are presented below. Beginning of Year End of Year 1,218 3,300 1,400 115 3,100 1,400 485 $5,100 $2,562 Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets 522 $6,440 $3,220 Total current liabilities For the year, net credit sales were $13,120 million, cost of goods sold was $8,540 milion, and net cash provided by operating activities was $1,270 milion. Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory at the end of the current year. (Ro answers to 1 decimal place, e.g. 1.6.) Current ratio times Accounts receivable turnover Average collection period Inventory turnover Days in inventory days times days
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