Question: Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2017 are presented below.
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, accounts receivable turnover, average collection period, inventory turnover, and days in inventory at the end of the current year.