Question
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
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 | $ 1,032 | $ 90 | ||||||
Accounts receivable (net) | 2,500 | 2,400 | ||||||
Inventory | 1,100 | 1,100 | ||||||
Other current assets | 408 | 379 | ||||||
Total current assets | $5,040 | $3,969 | ||||||
Total current liabilities | $2,520 | $2,001 |
For the year, net credit sales were $10,290 million, cost of goods sold was $6,710 million, and net cash provided by operating activities was $1,276 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 answers to 1 decimal place, e.g. 1.6.)
Current ratio | :1 | ||
Accounts receivable turnover | times | ||
Average collection period | days | ||
Inventory turnover | times | ||
Days in inventory | days |
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