Question

Clay's fishing shop's beginning inventory is $70,000 and ending inventory is $36,500. what was clay's average inventory?

Answer 1

$53,250

Step-by-step explanation:

The Average Inventory is found by adding the Beginning and Ending Inventory together, and then divide it by 2:

Avg Inv = (Beg Inv + End Inv) / 2

Avg Inv = (70,000 + 36,500) / 2

Avg Inv = 106,500 / 2

Avg Inv = $53,250

Answer 2

The Average Inventory is set up by adding the Beginning and Ending Inventory together, and then divide it by 2:

Avg Inv = (Beg Inv + End Inv) / 2

Avg Inv = (70,000 + 36,500) / 2

Avg Inv = 106,500 / 2

= $53,250

Therefore, the average inventory is $53,250.