Question: need help solving please *Exercise 14-7 Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2020 are presented
need help solving please

*Exercise 14-7 Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2020 are presented below. Beginning of End of Year Year Cash and cash equivalents $ 965 $ 83 Accounts receivable (net) 2,300 2,200 Inventory 1,000 1,000 Other current assets 375 349 Total current assets $4,640 $3,632 Total current liabilities $2,320 $1,841 For the year, net credit sales were $9,450 million, cost of goods sold was $6,100 million, and net cash provided by operating activities was $1,264 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 answers to 1 decimal place, e.g. 1.6.) Current ratio :1 Accounts receivable turnover times Average collection period days Inventory turnover times Days in inventory days
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
