Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022 are presented below. Beginning of Year End of Year Cash and cash...

Inventory turnover __________ times Days in inventory ___________ days
Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022<br>are presented below.<br>Beginning of<br>Year<br>End of Year<br>Cash and cash equivalents<br>$1,357<br>$133<br>Accounts receivable (net)<br>3,800<br>3,600<br>Inventory<br>1,700<br>1,700<br>Other current assets<br>976<br>561<br>Total current assets<br>$7,833<br>$5,994<br>Total current liabilities<br>$3,730<br>$2,962<br>For the year, net credit sales were $15,170 million, cost of goods sold was $9,860 million, and net cash provided by operating activities<br>was $1,259 million,<br>Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory for the<br>current year. (Round Current ratio to 2 decimal places, e.g. 1.62 and all other answers to 1 decimal place, e.g. 1.6.)<br>Current ratio<br>2.1<br>:1<br>Accounts receivable turnover<br>1.025<br>times<br>Average collection period<br>days<br>MacBook Pro<br>&<br>%23<br>7<br>3<br>4<br>E<br>R<br>T.<br>Y<br>Q<br>H<br>K<br>A<br>C<br>V<br>command<br>command<br>

Extracted text: Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022 are presented below. Beginning of Year End of Year Cash and cash equivalents $1,357 $133 Accounts receivable (net) 3,800 3,600 Inventory 1,700 1,700 Other current assets 976 561 Total current assets $7,833 $5,994 Total current liabilities $3,730 $2,962 For the year, net credit sales were $15,170 million, cost of goods sold was $9,860 million, and net cash provided by operating activities was $1,259 million, Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory for the current year. (Round Current ratio to 2 decimal places, e.g. 1.62 and all other answers to 1 decimal place, e.g. 1.6.) Current ratio 2.1 :1 Accounts receivable turnover 1.025 times Average collection period days MacBook Pro & %23 7 3 4 E R T. Y Q H K A C V command command

Jun 03, 2022
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