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 $ 1,441 $137 Accounts receivable (net) 3,900 3,700 Inventory 1,700 1,700 Other current assets 619 576 Total current assets $7,660 $6,113 Total current liabilities $3,830 $3,042 For the year, net credit sales were $15,580 million, cost of goods sold was $10,200 million, and net cash provided by operating activities was $1,273 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.) Current ratio Accounts receivable turnover Average collection period Inventory turnover Days in inventory :1 times days times days
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 $ 1,441 $137 Accounts receivable (net) 3,900 3,700 Inventory 1,700 1,700 Other current assets 619 576 Total current assets $7,660 $6,113 Total current liabilities $3,830 $3,042 For the year, net credit sales were $15,580 million, cost of goods sold was $10,200 million, and net cash provided by operating activities was $1,273 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.) Current ratio Accounts receivable turnover Average collection period Inventory turnover Days in inventory :1 times days times days
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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
$ 1,441
$137
Accounts receivable (net)
3,900
3,700
Inventory
1,700
1,700
Other current assets
619
576
Total current assets
$7,660
$6,113
Total current liabilities
$3,830
$3,042
For the year, net credit sales were $15,580 million, cost of goods sold was $10,200 million, and net cash provided by operating
activities was $1,273 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.)
Current ratio
Accounts receivable turnover
Average collection period
Inventory turnover
Days in inventory
:1
times
days
times
days
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