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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 $73 Accounts receivable (net) 1,910 1,900 Inventory 840 910 Other current assets 910 417 Total current assets $4,410 $3,300 Total current liabilities. $2,070 $1,590 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 2.13 :1 Accounts receivable turnover 4.33 times Average collection period Inventory turnover Days in inventory 84.3 days 3 times 121.7 days
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