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Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment. The company reports inventory and cost of goods sold
Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment. The company reports inventory and cost of goods sold using the LIFO method. Suppose it reported the following information in its 2022 annual report. (in millions) 2022 2021 Inventories $2,400 3,150 Current assets 28,416 Current liabilities 12,800 LIFO reserve 3,840 Cost of goods sold 15,651 (a1) Compute Deere's inventory turnover for 2022. (Round inventory turnover to 2 decimal places, e.g. 5.12.) Inventory turnover
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