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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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