Analyze and compare Neiman Marcus and Kohls Neiman Marcus Group (NMG) is one of the...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Analyze and compare Neiman Marcus and Kohls Neiman Marcus Group (NMG) is one of the largest luxury fashion retailers in the world. Kohls Corporation (KSS) sells moderately priced private and national branded products through more than 1,100 department stores located throughout the United States.
The current assets and current liabilities at the end of a recent year for both companies are as follows (in millions):
Neiman Marcus - Kohls Current assets:
Cash $39 - $723
Inventories 1,116- 3,537
Other current assets 158 - 389
Total current assets $1,313 - 4649
Neiman Marcus - Kohls Current liabilities:
Accounts payable: $319 - $1,206
Other current liabilities: 541 - 1,563
Total current liabilities $860 - $2,769
Compute the quick ratio for both companies. Round your answers to two decimal places.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
