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 | $ 750 | $ 77 | ||
Accounts receivable (net) | 2,080 | 1,800 | ||
Inventory | 800 | 900 | ||
Other current assets | 290 | 353 | ||
Total current assets | $3,920 | $3,130 | ||
Total current liabilities | $2,050 | $1,600 |
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 | enter current ratio rounded to 2 decimal places | :1 | |
Accounts receivable turnover | enter accounts receivable turnover in times rounded to 1 decimal place | times | |
Average collection period | enter average collection period rounded to 1 decimal place | days | |
Inventory turnover | enter inventory turnover in times rounded to 1 decimal place | times | |
Days in inventory | enter days in inventory rounded to 1 decimal place | days |
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