Solution-Compute current ratio and accounts receivable

Compute current ratio and accounts receivable turnover

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Reference no: EM132803851

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.

Required - Compute current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory at the end of the current year.

Reference no: EM132803851

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Compute current ratio and accounts receivable turnover

Reference no: EM132803851

Reference no: EM132803851

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