Question

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		$ 740		$ 77
Accounts receivable (net)		1,980		1,830
Inventory		900		910
Other current assets		310		443
Total current assets		$3,930		$3,260
Total current liabilities		$1,990		$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 at the end of the current year. (Round current ratio to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation.)

Current ratio		enter current ratio rounded to 2 decimal places	:1
Accounts receivable turnover		enter accounts receivable turnover in times rounded to 1 decimal place	times
Average collection period		enter average collection period rounded to 1 decimal place	days
Inventory turnover		enter inventory turnover in times rounded to 1 decimal place	times
Days in inventory		enter days in inventory rounded to 1 decimal place	days

Answer 1