Solution-Compute deeres inventory turnover ratio

Compute deeres inventory turnover ratio

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Reference no: EM13531561

Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment. It reported the following information in its 2009 annual report.

(in millions)	2009	2008
Inventories (LIFO)	$2,397	3,042
Current assets	30,857
Current liabilities	12,753
LIFO reserve	1,367
Cost of goods sold	16,255

Instructions

(a) Compute Deere"s inventory turnover ratio and days in inventory for 2009.

(b) Compute Deere"s current ratio using the 2009 data as presented, and then again after adjusting for the LIFO reserve.

Reference no: EM13531561

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Compute deeres inventory turnover ratio

Reference no: EM13531561

Reference no: EM13531561

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