Answer complete question otherwise skip it please Please provide answer in text (Without image) Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022are presented below.Cash and cash equivalentsAccounts receivable (net)InventoryOther current assetsTotal current assets.Total current liabilities.Current ratioAccounts receivable turnoverAverage collection periodEnd of YearInventory turnover$1,4413,900Days in inventory1,700619$7,660$3,830Beginning ofYear$ 1373,700For the year, net credit sales were $15,580 million, cost of goods sold was $10,200 million, and net cash provided by operatingactivities was $1,273 million.1,700Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory for thecurrent year. (Round Current ratio to 2 decimal places, e.g. 1.62 and all other answers to 1 decimal place, e.g. 1.6.)576$6,113$3,042:1timesdaystimesdays

Current ratio is the measure that helps the entity to determine its liquidity position. It is a…

Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022 are presented below. Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets Total current liabilities Current ratio Accounts receivable turnover Average collection period End of Year Inventory turnover $1,441 Days in inventory 3,900 1,700 619 $7,660 $3,830 For the year, net credit sales were $15,580 million, cost of goods sold was $10,200 million, and net cash provided by operating activities was $1,273 million. Beginning of Year $ 137 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.) 3,700 1,700 576 $6,113 $3,042 :1 times days times. days

Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022 are presented below. Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets Total current liabilities Current ratio Accounts receivable turnover Average collection period End of Year Inventory turnover $1,441 Days in inventory 3,900 1,700 619 $7,660 $3,830 For the year, net credit sales were $15,580 million, cost of goods sold was $10,200 million, and net cash provided by operating activities was $1,273 million. Beginning of Year $ 137 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.) 3,700 1,700 576 $6,113 $3,042 :1 times days times. days

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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Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022 are presented below. End of Year Beginning of Year Cash and cash equivalents $ 1,441 $137 Accounts receivable (net) 3,900 3,700 Inventory 1,700 1,700 Other current assets 619 576 Total current assets $7,660 $6,113 Total current liabilities $3,830 $3,042 For the year, net credit sales were $15,580 million, cost of goods sold was $10,200 million, and net cash provided by operating activities was $1,273 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 Accounts receivable turnover Average collection period Inventory turnover Days in inventory :1 times days times days
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