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Sagot :
The average inventory amount is: $51,050
What is average inventory amount ?
The average inventory value or quantity across two or more accounting periods is the inventory you have on hand. The inventory's average worth over a specific period of time is what it represents. It's possible that value and the median figure calculated from the same data are not equal.
According to the given information:
Cost of goods sold = $837,000
Beginning inventor = $37,600
Ending inventory = $46,500
By definition,
Average inventory = (1/2)*(Beginning inventory + Ending inventory)
= (1/2)*(37600 + 64500)
= 1,02,100/2
= 51,050
the average inventory amount is: $51,050
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