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Exercise 6-13 al-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 al-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. 2021 3,200 (in millions) Inventories Current assets Current liabilities LIFO reserve Cost of goods sold 2022 $2,500 30,613 12,650 3,036 16,074 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 Compute Deere's current ratio using the 2022 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 :1 After adjusting for LIFO reserve: Current ratio :1 Click if you would like to Show Work for this question: Open Show Work
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