Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022 are presented below. Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets Total current liabilities Current ratio Accounts receivable turnover Average collection period End of Year Inventory turnover $1,441 Days in inventory 3,900 1,700 619 $7,660 $3,830 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. Beginning of Year $ 137 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.) 3,700 1,700 576 $6,113 $3,042 :1 times days times. days

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Chapter1: Financial Statements And Business Decisions
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Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022
are presented below.
Cash and cash equivalents
Accounts receivable (net)
Inventory
Other current assets
Total current assets.
Total current liabilities.
Current ratio
Accounts receivable turnover
Average collection period
End of Year
Inventory turnover
$1,441
3,900
Days in inventory
1,700
619
$7,660
$3,830
Beginning of
Year
$ 137
3,700
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.
1,700
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.)
576
$6,113
$3,042
:1
times
days
times
days
Transcribed Image Text:Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022 are presented below. Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets. Total current liabilities. Current ratio Accounts receivable turnover Average collection period End of Year Inventory turnover $1,441 3,900 Days in inventory 1,700 619 $7,660 $3,830 Beginning of Year $ 137 3,700 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. 1,700 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.) 576 $6,113 $3,042 :1 times days times days
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