Current Attempt in Progress 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 2025 annual report. (in millions) Inventories (LIFO) Current assets Current liabilities LIFO reserve Cost of goods sold (a1) 2025 $2,400 28,000 12.500 6,750 Inventory turnover 16,445 Compute Deere's inventory turnover for 2025. (Round inventory turnover to 2 decimal places, e.g. 5.12.) 2024 $3,100 eTextbook and Media times

Current Attempt in Progress 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 2025 annual report. (in millions) Inventories (LIFO) Current assets Current liabilities LIFO reserve Cost of goods sold (a1) 2025 $2,400 28,000 12.500 6,750 Inventory turnover 16,445 Compute Deere's inventory turnover for 2025. (Round inventory turnover to 2 decimal places, e.g. 5.12.) 2024 $3,100 eTextbook and Media times

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.13P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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