Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022

Question:

Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022 are presented below. 

End of Year $ 795 2,035 Beginning of Year $ 72 1,942 900 303 Cash and cash equivalents Accounts receivable (net) Invento


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. 


Instructions 

Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory at the end of the current year.

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Related Book For  answer-question

Financial Accounting Tools for Business Decision Making

ISBN: 978-1119493631

9th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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