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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 using
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 2021 3.110 in millions) Inventories Current assets Current liabilities LIFO reserve Cost of goods sold 2022 $2.360 28.112 12.550 4518 16,410 Compute Deere's inventory turnover for 2022. Round Inventory turnover to 2 decimal places, es, 5.12.) Inventory turnover Compute Deere's days in inventory for 2022. (Round days in inventory to decimal places, eg 5. Days in inventory days e Textbook and Media Compute Deere's current ratio using the 2022 data as presented, and then again after adjusding for the LIFO reserve. (Round answers to 2 decimal places, es 5.12.1) 1 Based on data presented. Current ratio After adjusting for LIFO reserve: Current ratio 1
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