Reference no: EM132790658
Question - Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2020 are presented below.
End of Year Beginning of Year
Cash and cash equivalents $1,289 $126
Accounts receivable (net) 3,600 3,400
Inventory 1,600 1,600
Other current assets 571 531
Total current assets $7,060 $5,657
Total current liabilities $3,530 $2,802
For the year, net credit sales were $14,350 million, cost of goods sold was $9,280 million, and net cash provided by operating activities was $1,268 million.
Compute 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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