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Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment. Suppose it reported the following information in its 2017 annual
Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment. Suppose it reported the following information in its 2017 annual report. (in millions) 2017 2016 Inventories (LIFO) $2,208 2,9 13 Current assets 30,717 Current liabilities 11,762 LIFO reserve 1,416 Cost of goods sold 17,814 (a1) Compute Deere & Company's inventory turnover for 2017. (Round inventory turnover to 2 decimal places, e.g. 5.12.) Inventory turnover Attempts: 0 of 5 used Save for Later Submit Answer (a2) Compute Deere & Company's days in inventory for 2017. (Round days in inventory to 0 decimal places, eg.5.) Days in inventory days Attempts: 0 of 5 used Save for Later Submit Answer (b) Compute Deere & Company's current ratio using the 2017 data as presented, and then again after adjusting for the LI FO reserve. (Round answers to 2 decimal places, e.g. 5.12:1.) Based on data presented: Current ratio :1 After adjusting for LIFO reserve: Current ratio :1
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