Question: Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2014 are presented below.
|
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End of Year
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Beginning of Year
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|
Cash and cash equivalents
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$795
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$72.00
|
|
Accounts receivable (net)
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2,035
|
1,942
|
|
Inventory
|
898
|
900
|
|
Other current assets
|
326
|
303
|
|
Total current assets
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$4,054
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$3,217
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|
Total current liabilities
|
$2,014
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$1,601
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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.
Required: 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.
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