Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment. Suppose it reported the following information in its 2017 annual report.

(in millions)		2017		2016
Inventories (LIFO)		$2,512		3,126
Current assets		33,200
Current liabilities		12,550
LIFO reserve		1,449
Cost of goods sold		15,063

Compute Deere & Company’s inventory turnover for 2017.

Inventory turnover: ________

Compute Deere & Company’s days in inventory for 2017.

Days in inventory: ________ days

Compute Deere & Company’s current ratio using the 2017 data as presented, and then again after adjusting for the LIFO reserve.

Based on data presented: Current ratio- _____:1

After adjusting for LIFO reserve: Current ratio- _____:1

Answer rating: 100% (QA)

Heres the breakdown of Deere Companys financial ratios for 2017 based on the information provided In... View the full answer