Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions)...
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Accounting
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
$ 760
$ 77
Accounts receivable (net)
2,080
1,890
Inventory
810
890
Other current assets
730
363
Total current assets
$4,380
$3,220
Total current liabilities
$2,000
$1,610
For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities was $1,251 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 current ratio to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation.)
Current ratio
:1
Accounts receivable turnover
times
Average collection period
days
Inventory turnover
times
Days in inventory
days
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