TABLE 2
INVENTORY CHANGES
Minnesota and North Dakota Farm Business Mgmt. Education
Red River Valley, 2004
(Farms Sorted By Net Farm Income)
Avg. Of
All Farms Low 20% 40 - 60% High 20%
Number of farms 230 46 46 46
Net cash farm income 132,114 59,570 113,093 262,477
CROPS AND FEED
Ending inventory 215,296 140,985 198,957 389,151
Beginning inventory 253,858 196,888 237,734 416,384
Inventory change -38,563 -55,903 -38,777 -27,234
MARKET LIVESTOCK
Ending inventory 2,610 102 2,317 9,357
Beginning inventory 3,017 134 4,102 9,806
Inventory change -407 -32 -1,785 -450
ACCTS RECEIVABLE & OTHER CURRENT ASSETS
Ending inventory 65,418 33,893 52,844 121,194
Beginning inventory 40,186 25,159 27,449 98,080
Inventory change 25,233 8,734 25,395 23,114
PREPAID EXPENSES AND SUPPLIES
Ending inventory 37,893 20,257 31,498 76,808
Beginning inventory 40,990 26,893 36,592 73,072
Inventory change -3,097 -6,636 -5,094 3,736
ACCOUNTS PAYABLE & ACCRUED EXPENSES
Beginning inventory 25,984 22,719 26,929 40,007
Ending inventory 30,733 28,471 25,970 45,395
Inventory change -4,750 -5,752 959 -5,389
Total inventory change -21,583 -59,589 -19,302 -6,221
Net operating profit 110,531 -19 93,791 256,255
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