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Elena-2011 [213]
3 years ago
12

Deere is a global manufacturer and distributor of agricultural, construction, and forestry equipment. Suppose it reported the fo

llowing information in its 2017 annual report. (In millions)
2017 2016 Inventories (LIFO) $2,267 $2,999
Current asset 32,910
Current liabilities 11,711
LIFO reserve 1,389
Cost of goods sold 15,661
Compute Deere inventory turnover for 2017 ratio.
Business
1 answer:
Sveta_85 [38]3 years ago
7 0

Answer:

5.95

Explanation:

Deere inventory turnover for 2017 ratio is:

Formula for Inventory Turnover Ratio= Cost of Goods sold / Average Inventory

Where Average Inventory = (Previous Inventory + Current Inventory) / 2

= ($2,267 + $2,999) / 2

=$5,266 / 2

=$2,633

Average Inventory = $2,633

Therefore, Inventory Turnover Ratio =  $15,661 / $2,633 = 5.9479 = 5.95

Deere Inventory Turnover for 2017 Ratio is  5.95.

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Suppose that you just short sold 100 shares of Quiet Minds stock for $85.00 per share.
qaws [65]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

4 0
3 years ago
In December, a company signed a contract with a regular customer to sell products for $100,000. In January, the company received
REY [17]

Answer: In January, when the products are delivered.

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1 year ago
Select the correct answer. What is the activity of in-store promotion called? A. controlling B. prospecting C. merchandising D.
ollegr [7]

Answer:

D

Explanation:

5 0
3 years ago
Arden Company reported the following costs and expenses for the most recent month:
Genrish500 [490]
Answer:
1) $141,000
2) $198,000
3) $ 61,000
4) $122,000

Explanation:
1) we sum ($80,000+$42,000+$19,000)= $141,00,0 according to the cost’s theory

2) we sum all amounts (80,000+42,000+19,000+22,000+35,00)= 198,000 we sum all amounts because those are the cost that the company incurred In the period.

3) Conversion cost we obtain summing direct labor+ manufacturing overhead ( 42,000+19,000)= $61,000

4) Prime costs we obtain summing direct materiales+ direct labor ( 42,000+80,000)= $122,000


8 0
3 years ago
What is the disadvantage of getting line managers to recruit for a firm?
tankabanditka [31]

Answer: B) They have to take time out from their actual jobs.

Explanation: Line managers are often referred to personnels in an organization who are in charge if a particular department or sector and hence, charged with the responsibility of handling and overseeing the performance of particular employees and output of his or her department. This puts line managers in a position of knowing the employees in his or her department, what the department needs in terms of personnel in other to raise and drive productivity. However, charging line managers with the responsibility of recruiting for the organization will result in the disruption of their actual job role and will definitely have to take time out in other to facilitate the recruitment process which will definitely have an effect on their performance and actual duty.

3 0
3 years ago
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