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 $740 1,980 900 310 $3,930 $1,990 Beginning of Year $77 1,830 910 443 $3,260 $1,630 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, eg 1.8. Use 365 days for calculation.)

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 $740 1,980 900 310 $3,930 $1,990 Beginning of Year $77 1,830 910 443 $3,260 $1,630 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, eg 1.8. Use 365 days for calculation.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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