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Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022 are presented below. End of Year Beginning
Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022 are presented below. End of Year Beginning of Year Cash and cash equivalents $750 $77 Accounts receivable (net) 2,080 1,800 Inventory 800 900 Other current assets 290 353 Total current assets $3,920 $3,130 Total current liabilities $2,050 $1,600 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. Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover and days in inventory at the end of the current year. (Round current ratio to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation.) Current ratio Accounts receivable turnover Average collection period :1 times days Total current assets $3,920 $3,130 Total current liabilities $2,050 $1,600 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. Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover and days in inventory at the end of the current year. (Round current ratio to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation.) Current ratio Accounts receivable turnover. Average collection period Inventory turnover Days in inventory :1 times. days times days
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