g. The average inventory holding period is estimated using the following formula (the denominator is referred to as the inventory turnover ratio): = Average Inventory Cost of Sales 365 days Average Inventory Holding Period Use data from the financial statements to estimate the average inventory holding period for Deere and CNH Global for fiscal 2011 and 2012. Calculate the metric for both companies with their reported (i.e., unadjusted) numbers. Additional information: CNH Globals inventory balance at the end of fiscal 2010 was $2,937. Evaluate how well Deere manages its inventory relative to its competitor, CNH Global. Now recalculate the average holding period for Deere using their adjusted (i.e., FIFO) numbers. Do you come to a different conclusion about their inventory turnover and managements relative performance?