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Exercise 6-13 a1-b Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment. The company reports inventory and cost of
Exercise 6-13 a1-b 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. 2022 2021 3,050 (in millions) Inventories Current assets Current liabilities $2,450 29,601 12,650 4,301 16,060 LIFO reserve Cost of goods sold Compute Deere's inventory turnover for 2022. (Round inventory turnover to 2 decimal places, e.g. 5.12.) Inventory turnover LINK TO TEXT LINK TO VIDEO Compute Deere's days in inventory for 2022. (Round days in inventory to 0 decimal places, e.g. 5.) Days in inventory days LINK TO TEXT LINK TO VIDEO
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