Exercise 6-13 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 2017 annual report. 2016 3,080 (in millions) Inventories Current assets Current liabilities LIFO reserve Cost of goods sold 2017 $2,438 28,407 13,382 1,454 16,401 Your answer is correct. Compute Deere & Company's inventory turnover for 2017. (Round inventory turnover to 2 decimal places, e.g. 5.12.) Inventory turnover Inventory turnover 5.99 5.94 SHOW SOLUTION LINK TO TEXT VIDEO: SIMILAR EXERCISE Your answer is correct. Compute Deere & Company's days in inventory for 2017. (Round days in inventory to 0 decimal places, e.g. 5.) Days in inventory Days in inventory 61 days days SHOW SOLUTION LINK TO TEXT VIDEO: SIMILAR EXERCISE x Your answer is incorrect. Try again. Compute Deere & Company's current ratio using the 2017 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 2.30 After adjusting for LIFO reserve: Current ratio 2.41 :1 Click if you would like to Show Work for this question: Open Show Work