Question

Chris runs a clothing company and wants to figure out his average aggregate inventory value. He has 50 shirts that cost $20, 40 pairs of pants that cost $35, and 67 hats that cost $16. What is his average aggregate inventory value?

Answer 1

To find Chris's average aggregate inventory value, multiply the quantity of each item by its cost, sum these amounts, and then divide by the number of item types. the total inventory value is $3,472 and the average across the three types of items is $1,157.33.

Step-by-step explanation:

Chris runs a clothing company and is interested in determining the average aggregate inventory value for a selection of items. To compute this, we'll multiply the quantity of items by their respective costs and then sum those amounts to find the total value. for the shirts, the calculation is 50 shirts × $20 each = $1,000. for the pants, it's 40 pairs × $35 each = $1,400. Lastly, for the hats, it's 67 hats × $16 each = $1,072.

The total aggregate inventory value is the sum of these amounts: $1,000 + $1,400 + $1,072 = $3,472. To find the average, you divide this total by the number of item types, which in this case is 3 (shirts, pants, and hats).

Therefore, the average aggregate inventory value is $3,472 ÷ 3 = $1,157.33.