Business, 13.08.2020 03:01 brianogle4069

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 $1,424 $140
Accounts receivable (net) 4,000 3,800
Inventory 1,800 1,800
Other current assets 636 591
Total current assets $7,860 $6,331
Total current liabilities $3,930 $3,122
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.
Instructions:
Compute the current ratio, current cash debt coverage, accounts receivable turnover, average collection period, inventory turnover, and days in inventory at the end of the current year.

Answers: 3

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Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement...