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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 End 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 End of Year Beginning of Year Cash and cash equivalents Accounts receivable (net) InventonY Other current assets Total current assets Total current labilities 1,289 3,600 1,600 126 3,400 1,600 531 $5,657 2,802 571 $7,060 $3,530 For the year, net credit sales were $14,350 million, cost of goods sold was $9,280 million, and net cash provided by operating activities was 1,256 miion. 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 decima Current ratio Accounts receivable turnover Average collection period Inventory turnover Days in inventory times days times days
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