Nordstrom, Inc. operates department stores in numerous states. Selected financial statement data (in millions) for 2009 are
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Nordstrom, Inc. operates department stores in numerous states. Selected financial statement data (in millions) for 2009 are presented below.
For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and cash from operations was $1,251 million.InstructionsCompute the current ratio, current cash debt coverage ratio, receivables turnover ratio, average collection period, inventory turnover ratio, and days in inventory at the end of the current year.
Inventory Turnover RatioInventory Turnover RatioThe inventory turnover ratio is a ratio of cost of goods sold to its average inventory. It is measured in times with respect to the cost of goods sold in a year normally. Inventory Turnover Ratio FormulaWhere,...
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Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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