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 for the current year. (Round current ratio to 2 decimal places, eg. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation) Current ratio Accounts receivable turnover Average collection period Inventory turnover 1.91 2.12 172 31 :1 times days times
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 for the current year. (Round current ratio to 2 decimal places, eg. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation) Current ratio Accounts receivable turnover Average collection period Inventory turnover 1.91 2.12 172 31 :1 times days times
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject: acounting
Transcribed Image Text: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 for the
current year. (Round current ratio to 2 decimal places, eg. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation)
Current ratio
Accounts receivable turnover
Average collection period
Inventory turnover
Days in inventory
1.91
212
172
31
117.7
:1
times
days
times
days
h
Transcribed Image Text:Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2025
are presented below.
Cash and cash equivalents
Accounts receivable (net)
Inventory
Other current assets
Total current assets
Total current liabilities
End of Year
$750
2,080
800
290
$3,920
$2,050
Beginning of Year
$77
1.800
900
353
$3,130
$1,600
For the year, net credit sales were $8.258 million, comoods sold was $5,328 million, and net cash provided by operating activities
was $1,251 million.
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