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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) | $2,397 | 3,042 | ||
Current assets | 30,857 | |||
Current liabilities | 12,753 | |||
LIFO reserve | 1,367 | |||
Cost of goods sold | 16,255 |
Your answer is incorrect. Compute Deere & Company's inventory turnover for 2017. (Round inventory turnover to 2 decimal places, eg. 5.12) Inventory turnover eTextbook and Media Your answer is correct. Compute Deere & Company's days in inventory for 2017. (Round days in inventory to O decimal places,eg. 5.) Days in inventory 62 days eTextbook and Media Your answer is incorrect. Compute Deere & Company's current ratio using the 2017 data as presented, and then again after adjusting for the LIFO reserve. (Round answers to 2 decimal places, e.g. 5.12:1.) Based on data presented: Current ratio After adjusting for LIFO reserve: Current ratio
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