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) 2025 2024 Inventories (LIFO) $2,360 $3,300 Current assets 28,842 Current liabilities 12,650 LIFO reserve 4,554 Cost of goods sold 16,414 (a1) Compute Deere's inventory turnover for 2025. (Round inventory turnover to 2 decimal places, e.g. 5.12.) Inventory turnover times
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) 2025 2024 Inventories (LIFO) $2,360 $3,300 Current assets 28,842 Current liabilities 12,650 LIFO reserve 4,554 Cost of goods sold 16,414 (a1) Compute Deere's inventory turnover for 2025. (Round inventory turnover to 2 decimal places, e.g. 5.12.) Inventory turnover times
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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)
2025
2024
Inventories (LIFO)
$2,360
$3,300
Current assets
28,842
Current liabilities
12,650
LIFO reserve
4,554
Cost of goods sold
16,414
(a1)
Compute Deere's inventory turnover for 2025. (Round inventory turnover to 2 decimal places, e.g. 5.12.)
Inventory turnover
times
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