Question
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 | $ 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 | enter current ratio rounded to 2 decimal places | :1 | |
Accounts receivable turnover | enter accounts receivable turnover in times rounded to 1 decimal place | times | |
Average collection period | enter average collection period rounded to 1 decimal place | days | |
Inventory turnover | enter inventory turnover in times rounded to 1 decimal place | times | |
Days in inventory | enter days in inventory rounded to 1 decimal place | days |
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