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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 of
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 $1,100 $97 Accounts receivable (net) 2,700 2,600 Inventory 1,200 1,200 Other current assets 440 410 Total current assets $5,440 $4,307 Total current liabilities $2,720 $2,161 For the year, net credit sales were $11,130 million, cost of goods sold was $7,200 million, and net cash provided by operating activities was $1,262 million. Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory for the current year. (Round Current ratio to 2 decimal places, e.g. 1.62 and all other answers to 1 decimal place, e.g. 1.6.) Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory for the current year. (Round Current ratio to 2 decimal places, e.g. 1.62 and all other answers to 1 decimal place, e.g. 1.6.) Current ratio Accounts receivable turnover Average collection period Inventory turnover Days in inventory :1 times days times days
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