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Exercise 6-11 (Part Level Submission) Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment. Suppose it reported the following

Exercise 6-11 (Part Level Submission)

Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment. Suppose it reported the following information in its 2014 annual report.

(in millions)

2014

2013

Inventories (LIFO) $2,342 2,973
Current assets 30,584
Current liabilities 12,841
LIFO reserve 1,157
Cost of goods sold 16,863

Compute Deere

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