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iPad 6:29 PM 93% edugen.wileyplus.com O These ar Seeing Th....Four Frien.. 30 Public.. Personal a...How To Ad... Test result.... Online Ser. Kimmel, Accounting, 4e CALCULATOR PRINTER VERSION BACK Exercise 6-11 Deere & Company is a global manufacturer and distributor of agricultural, reported the following information in its 2009 annual report. Ch06 Homework and forestry equipment. It 2009 2008 Inventories (LIFO) Current assets Current liabilities LIFO reserve Cost of goods sold $2,397 30,857 12,753 1,367 16,255 3,042 Exercise 6-10 (a1) Your answer is correct. Objective Compute Deere's inventory turnover ratio for 2009. (Round answers to 2 decimal places, e.g. 5.12.) Inventory turnover ratio 5.98 Click if you would like to Show Work for this question: Open Show Work Attempts: 3 of 5 used

Explanation / Answer

Solution.

Calculation of Day's in inventory.

Day's in inventory = 365 / Inventory Turnover.

= 365 / 5.98

= 61.03 Days.

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